Competition Bringing Down MMJ Prices in New Jersey

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A pair of medical cannabis dispensaries that opened in New Jersey late last year have had a significant impact on the state’s MMJ industry, helping to lower prices and boost choices for patients.

Compassionate Sciences Alternative Treatment Center and Breakwater Treatment and Wellness Center, which both opened last fall, immediately instituted price-slashing measures, the Philadelphia Inquirer reported.

As a result, the average price of cannabis has fallen from $489 an ounce “down to the $300 range,” according to the report.

That could encourage more patients to sign up for the state’s MMJ program, as high prices have been an obstacle to market growth.

The new dispensaries have also established various discounts for low-income patients, military veterans and senior citizens. Some patients, for instance, can get an ounce at Compassionate Sciences for as low as $288.

Compassionate Sciences also is open longer than any of its competitors and offers extra perks to patients, such as classes on how to make edibles at home (since edibles sales are prohibited by state law).

The Compassionate Care Foundation, an older New Jersey dispensary, has enacted price cuts as well, and one patient reported purchasing an ounce for $320 with a low-income discount, according to the Inquirer.