It’s no secret that Connecticut has a tendency to make things difficult for its MMP patients. We all know about the labyrinth of a naming system implemented to keep things sounding “scientific.” After we figure out what it is we are actually buying, have no fear, because prices for marijuana flower have remained consistently high, much above the rest of the market in America.
We know that Connecticut loves to tax and regulate. This surely takes up some of the space in producer’s profit margin plan when establishing prices. And then dispensaries set their own prices, despite previous rumors of price matching across the board. All of these markups are coming directly at the dismay of medical marijuana patients in Connecticut!
So, there must be something that can be done. You would think that with an increasing demand for product, due to the surging number of registered patients, producers would start growing more plants. Simple economics will tell us that as the demand increases, supply will naturally decrease. What does this mean for price? Well, it’s hard to tell. I would like to think that producers are compensating for an increase in patients and trying to produce more product so there are no shortages. However, if this isn’t being done, we should expect prices to actually remain the same or increase!
Theraplant is leading the way in a trend that hopefully catches on with other producers in Connecticut. It seems as if they’ve been more aggressively stockpiling buds from different strains in order to release new products on a consistent basis. Since the beginning of 2017, it has been noted that Theraplant is continuing to release new flower strains with a gradually decreasing price point.
For example, if we rewind almost a year back to July 21, 2016, Theraplant released Gwyniva (Aj’s Sour Diesel x The White), a 24% THC strain being sold for $48/eighth or $90/quarter (an astounding $360/ounce!). It’s been awhile since $400/ounce was the gold standard for high quality medical marijuana, we’re way past that!
Fast forwards six months. New year, new me(dicine)! Theraplant releases Akenocet (Tangerine Haze x Tahoe Alien, and very terpy I must say) a 20% THC strain for $38/eighth or $75/quarter (which unreluctantly still ends up being $300/ounce) on January 2, 2017.
Osanalix (Killer Queen x Tahoe Alien BX), a 15% THC strain arrived in dispensaries on March 31 being sold for $32/eighth or $60/quarter ($240/ounce). More recently, Orabellose (Ortega × Super Skunk Deep Chunk), a 17% THC strain, rolled into dispensaries with a price point set at $30/eighth or $55/quarter ($220/ounce).
Now that we have some numbers to play with, let’s see what we can learn from all of this. But before we do that, it’s important to have a basic understanding of how quality (essentially THC/CBD%) correlates with price point (in terms of $/ounce). There’s basically two tiers of quality as far as marijuana goes: high and higher. The split between the two tiers are where a strain’s THC percentages in the mid and upper teens start to creep into the lower-mid twenties and beyond. Applying this concept allows for a slight variance in $/ounce when analyzing trends among strains from both tiers, such as this example.
From July 2016 to April 2017 there was a 38.9% decrease in the $/ounce of medical marijuana. If we assume this pattern continues, the price of flowers will continue to decrease. This example uses strictly Theraplant as a producer and Prime Wellness as a dispensary.
With that being said, let’s analyze where we are at currently with the price point of medical marijuana in Connecticut.
TOP SHELF (27%+ THC)
- AGL: $440/ounce – Indicol B (P Chem: Chem 4 x Pakistani Chitral Kush) – 28% THC indica strain
- CPS: $440/ounce – Lexican (Lemon Skunk) – 31% THC sativa strain
- CURALEAF: $440/ounce – Citron (Snow Dog) – 30% THC sativa strain
- THERAPLANT: $380/ounce – Tomandi (Lemon Alien Dawg) – 29% THC indica strain
STILL HIGH, BUT NOT AS HIGH QUALITY (Up to 27%THC)
- AGL: $340/ounce – Indicol U (Skunk #2: UK Cheese x Tres OG) – 20% THC indica strain
- CPS: $420/ounce – Fioraden C (G 13 ’88 Hash Plant x Starkiller) – 26% THC indica strain
- CURALEAF: $360/ounce – Black (Rare Dankness) – 25% THC indica strain
- THERAPLANT: $280/ounce – Squiblica (Girl Scout Cookies) – 22% THC hybrid strain
So, what can we take away from this? The top notch flower available here is ridiculously expensive. When we start lowering the THC percentages into the mid and lower twenties, there is a noticeable price drop. Granted this breakdown is grouping both the high and higher product quality tiers together, it’s still pretty easy to see that he prices are still very high.
I’ve kept an ear to the street, too. Patients who can’t afford to buy their medicine at dispensaries can expect to pay $200-$250 for an ounce of some usually indica-leaning “street weed.” If we find the average price of an ounce of marijuana from the dispensary in Connecticut to be $300-350, we’re paying an extra $100 per ounce!
With neighboring states like Massachusetts and Rhode Island soon to be offering intriguing alternatives, expect to see Connecticut lose a lot of sales as the year progresses. Senate Bill 11 and other recent legislative hearings have discussed potentially finding a way to fast track introducing recreational marijuana in CT, but let’s just hope our legislators are able to piece together a bill that is both by the people and for the people!