GRAND RAPIDS, MI – Throughout the state prices of marijuana have dropped pretty significantly as supply increases more than the current demand.
According to WOOD TV, in January of 2022 the average price of an ounce of flower was $152; however, a year later in January 2023 it was $80.
Many experts say the price decrease is due to oversupply of products. The industry is still relatively new in Michigan so it is normal to fluctuate as it levels out.
In the 2022 fiscal year, Michigan had $1.8 billion in adult-use marijuana sales.