Marijuana growing operations have been shutting down as prices and sales fail to rebound from 2021.
Colorado marijuana prices have stayed flat since last summer, according to the state Department of Revenue, but historical data shows that a change could be coming next quarter. for a pound of marijuana flower in Colorado at $749, down just $1 from AMRs in January and last October. The plateau infollowed a slight bump in wholesale weed prices in July 2023, but grower Chris Kaiser says he's seen similar flatlining at dispensaries.
Steadier prices came on the heels of steep decreases from 2021 to 2023, when the AMR for marijuana flower dropped from $1,721 to $649. Despite a small increase last year, though, dispensary sales continued to drop into 2024.in January were around 11 percent lower than January 2023, and nearly 49 percent lower than marijuana sales in January 2021.
Although the amount of recreational dispensary licenses has barely changed during the same time, going from 610 to 599, a handful of towns and counties in Colorado such as Broomfield, Golden and Grand Junction have opted into marijuana sales since 2021. Despite new opportunities for more stores, several notableAs more businesses close, Kaiser says that growers with good reputations are reaping higher rewards.
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