Cheap Marijuana Destroys Michigan Black Market
The race to the bottom for marijuana prices has led to unintended consequences. Just one harvest now called Croptober in Michigan happened in October of 2024 and so much marijuana was harvested that bulk prices dropped to $250 a pound, and it was reported that marijuana went unsold for as little as $150 a pound. Assuming marijuana at $250 a pound, how can dispensaries and dealers on the street stay in business? They can't, most dispensaries and production facilities in Michigan have closed, and almost all national companies have pulled out of Michigan, as well as all marijuana investors. In February and March of 2025 one dispensary in Dearborn Heights Michigan sold 2 oz of marijuana for $45, that came out to $52.50 out the door, they had two kinds of indoor hybrid smalls as well as a 26% tested outdoor indica strain, and you don't have to buy 2, they will sell a single ounce for $26. What does that mean for the dealer on the street? They will have to match it. Just 6 months ago...