(This story has been corrected to note that edibles are the product referenced in the fourth paragraph.)
The average price per milligram of THC in infused cannabis products such as beverages and edibles has declined steadily since January 2020, a likely sign of increased competition as marijuana markets mature.
Noninhalable marijuana products vary by size, dosage and item price, so measuring the price by the amount of THC it contains provides a valuable tool for comparing product categories and markets.
But the decline could also be explained by a change in post-pandemic buying trends as marijuana consumers spend more on products with higher THC doses.
For example, edibles with 100 milligrams of THC have accounted for a larger share of sales in California, Colorado, Nevada and Washington state, increasing from 78% in January 2020 to 83% this month.
Cooper Ashley, senior data analysis for Headset, a Seattle-based marijuana data analysis firm, said the price per milligram of THC usually decreases with larger package size, which can cause the overall prices to drop over time.
An MJBizDaily analysis of adult-use product pricing data from Headset showed that while price points per milligram varied by category in California, Colorado, Nevada and Washington state, overall prices as measured by amount of THC fell in each.
|Tinctures & Sublinguals||-22.23%|
Some price fluctuations likely are related to market interruptions brought on by the COVID-19 pandemic, such as stay-at-home orders.
Shortly after the pandemic began, Nevada reported a sharp decline in beverage prices when measured by the amount of THC.
The state imposed some of the strictest coronavirus-shutdown measures in the nation last spring – in-store marijuana sales were banned, for example. Tourist traffic to Las Vegas halted.
In January 2020, the state’s beverage prices were in line with California and Colorado at $0.26 per milligram of THC, but they dropped 79% by May 2020 to $0.06.
At the same time, edible prices in Nevada experienced a boost over the summer.
Edibles prices reached $0.25 per milligram of THC in October 2020, but they fell to $0.19 as of the week of May 3 – even lower than the market was fetching in January 2020.
While most categories declined, there were a few that gained.
Tinctures and sublinguals in Colorado recorded a modest 3.23% gain since January 2020.
The category topped the four states the first week of May 2021 at $0.31 per milligram of THC.
But Colorado was an outlier, as California, Nevada and Washington state experienced sagging prices.
How each category fared in the four states: