Cannabis consumers in Ohio are paying $210 for an ounce of weed on average, while prices hover around $70 in Michigan. If Ohio follows the development of other adult-use states, like Michigan, experts say Ohioans may see lower prices in the Buckeye state this year.
Sales of recreational marijuana began at Ohio's existing 127 dual-use dispensaries on Aug. 6, with the state's Division of Cannabis Control approving 117 new retail licenses while capping storefronts in Cleveland, Columbus and Cincinnati.
Based on data from the DCC website, the average price for a tenth of an ounce of flower is $21.65, meaning customers are paying over $210 for an ounce of product. As a point of comparison, the average cost of an ounce of dried cannabis flower in long-time recreational hotbed Michigan is about $70. Then there's Pennsylvania, which ranges in price from $350-$500 per ounce.
Ohio's prices will be subject to change once more dispensaries come online, noted cannabis entrepreneurs and executives interviewed by Scene. Andy Rayburn, owner of Eastlake cultivator and processor Buckeye Relief, said high pricing in the fall – about $250 per ounce – could be attributed to a forecasted shortage in cannabis flower that never materialized.
Read more at MITech News