{"id":507016,"date":"2022-11-05T19:21:00","date_gmt":"2022-11-05T16:21:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cannabis-watch-amid-steep-inflation-one-thing-is-getting-cheaper-cannabis\/"},"modified":"2022-11-05T19:21:00","modified_gmt":"2022-11-05T16:21:00","slug":"cannabis-watch-amid-steep-inflation-one-thing-is-getting-cheaper-cannabis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cannabis-watch-amid-steep-inflation-one-thing-is-getting-cheaper-cannabis\/","title":{"rendered":"#Cannabis Watch: Amid steep inflation, one thing is getting cheaper: cannabis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407a6494ca0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407a6494ca0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cannabis-watch-amid-steep-inflation-one-thing-is-getting-cheaper-cannabis\/#%E2%80%9CCannabis_Watch_Amid_steep_inflation_one_thing_is_getting_cheaper_cannabis%E2%80%9D\" >&#8220;Cannabis Watch: Amid steep inflation, one thing is getting cheaper: cannabis&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/cannabis-watch-amid-steep-inflation-one-thing-is-getting-cheaper-cannabis\/#Officials_launch_Buy_Legal_campaign_amid_price_wars_as_cannabis_defies_inflation\" >Officials launch Buy Legal campaign amid price wars as cannabis defies inflation<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/cannabis-watch-amid-steep-inflation-one-thing-is-getting-cheaper-cannabis\/#Steve_Gelsi\" >Steve Gelsi<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCannabis_Watch_Amid_steep_inflation_one_thing_is_getting_cheaper_cannabis%E2%80%9D\"><\/span>&#8220;Cannabis Watch: Amid steep inflation, one thing is getting cheaper: cannabis&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Officials_launch_Buy_Legal_campaign_amid_price_wars_as_cannabis_defies_inflation\"><\/span>\n  Officials launch Buy Legal campaign amid price wars as cannabis defies inflation<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001353577\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001353577\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       U.S. consumers continue to face the highest prices in decades for gasoline and other products, but if they\u2019re in a state that allows sales of cannabis, at least they\u2019re paying less for legal weed.<\/p>\n<p> Amid price rivalries \u2014 not only between legal cannabis companies but also against sales from the illicit market \u2014 the cost of wholesale pot has plunged and supply has climbed.<\/p>\n<div class=\"paywall\">\n       The evidence is clear in the country\u2019s largest legal cannabis market, California, which notched a whopping $1 billion in sales in the past year.<\/p>\n<p>California has seen cannabis prices as low as $100 a pound, a fraction of the average cost of $786 for an untrimmed, dried pound in the state, according to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/leafly-cms-production.imgix.net\/wp-content\/uploads\/2022\/10\/28134733\/Leafly-Cannabis-Harvest-Report-2022.pdf\" class=\"icon none\">report<\/a> released Tuesday by Leafly. <\/p>\n<p>As farmers in California increased pot production by 63 metric tons, the value of the state\u2019s weed harvest has dropped in the face of price competition.<\/p>\n<p>\u201cConsumers are seeing unheard-of-bargains in 2022, with $20 retail eighths [of an ounce] now the norm,\u201d Leafy said in its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/leafly-cms-production.imgix.net\/wp-content\/uploads\/2022\/10\/28134733\/Leafly-Cannabis-Harvest-Report-2022.pdf\" class=\"icon none\">Cannabis Harvest Report<\/a>.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:110.28571428571428%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-658153?width=540&amp;size=0.9071580439404677 540w, https:\/\/images.mktw.net\/im-658153?width=620&amp;size=0.9071580439404677 620w, https:\/\/images.mktw.net\/im-658153?width=639&amp;size=0.9071580439404677 639w, https:\/\/images.mktw.net\/im-658153?width=700&amp;size=0.9071580439404677 700w, https:\/\/images.mktw.net\/im-658153?width=700&amp;size=0.9071580439404677&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-658153?width=700&amp;size=0.9071580439404677&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-658153?width=700&amp;size=0.9071580439404677&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-658153?width=700&amp;height=772\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Leafly<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       Currently 19 states and the District of Colombia allow sales of cannabis to adults, and initiatives are on the ballot in five more states.<\/p>\n<p><strong>Also read:<\/strong> Cannabis legalization goes up for a vote Nov. 8 in five states with a combined adult population of 13 million<\/p>\n<p>While cheaper prices make cannabis more affordable for consumers, they\u2019re not considered good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for cannabis operators.<\/p>\n<p>One of the largest U.S. cannabis companies, Green Thumb Industries Inc.<br \/>\n        GTBIF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200716694\/delayed\" class=\"positive\">+1.58%<\/bg-quote><span>,<\/span><br \/>\n       earlier this week reported lower price compression its third-quarter results.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Citing industry data from BDSA Analytics, Green Thumb CEO Ben Kovler said U.S. cannabis sales are up 3% while unit sales have risen 22%. That pricing dynamic \u201cshows you the the price deflation\u201d in cannabis, Kovler told MarketWatch.<\/p>\n<p>\u201cPrice deflation at a time with massive inflation it makes it hard to operate when costs go up,\u201d Kovler said.<\/p>\n<p><strong>Also read: <\/strong>Sean Combs seeks to boost minority representation in cannabis with $185 million deal<\/p>\n<p>To soften the impact of lower prices, Green Thumb focuses on the more lucrative  premium end of the market. It has also worked to increase wholesale production efficiency and has taken an aggressive <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach on procurement and goods purchases.<\/p>\n<p>The efforts helped the company generate gross margins slightly above its internal 50% target in its third-quarter results, even as it continues to face inflationary pressure on  packaging and labor.\u00a0 <\/p>\n<p><strong>Fighting price competition<\/strong><\/p>\n<p>As legal cannabis companies compete for market share while absorbing a range of costs including regulatory compliance efforts and taxes, sellers on the illicit market \u2014 who pay none of those costs \u2014 continue to undercut them.<\/p>\n<p>The U.S. Cannabis Council, an industry advocacy group, this week launched a Buy Legal campaign with backing from cannabis businesses \u2014 some of them minority-owned \u2014 to encourage adult cannabis consumers to purchase only from state-licensed businesses.<\/p>\n<p>The effort has drawn support from New Jersey Gov. Phil Murphy as well as NBA veteran and cannabis entrepreneur Al Harrington, who is CEO of Viola.<\/p>\n<p>\u201cNow more than ever it\u2019s imperative to educate consumers on the importance of buying regulated, safe products,\u201d\u00a0Harrington said in a statement.<\/p>\n<p>The Buy Legal effort was unveiled just ahead of the Black CannaBiz Expo in New Orleans, which held a panel on the topic with Anacostia Organics Owner and CEO Linda Mercado Greene, as well as Josephine &amp; Billies CEO Whitney Beatty and Keya Kellum, director of marketing and procurement at Harvest of Ohio.<\/p>\n<p><strong>An industry with big numbers<\/strong> <\/p>\n<p>All told, legal U.S. cannabis farmers grew 2,834 metric tons of cannabis, according to the Leafly Cannabis Harvest Report 2022. The wholesale value of the market was about $5 billion. <\/p>\n<p>That figure makes cannabis the sixth-largest cash crop in the country after corn, soybeans, hay, wheat and cotton. <\/p>\n<p>After California, the states that generate the most dollars from legal wholesale cannabis are Colorado ($687 million), Michigan ($551 million) and Oregon ($500 million), according to the Leafly study. <\/p>\n<p>The 15 U.S. states that currently allow adult-use cannabis stores contain 13,297 active legal cannabis farms with tens of thousands of full-time workers, the study said.<\/p>\n<p>\u201cThe story in 2022 is all about rising production and falling prices,\u201d the Leafly study said. \u201cAs the legal harvest continued to ramp up in legal states, the average price of cannabis fell over the past twelve months.\u201d<\/p>\n<p><em>Jeremy Owens contributed to this article.<\/em><\/p>\n<p><strong>Also read: <\/strong>Cannabis edibles company Wyld builds national footprint as it keeps hiring<\/p>\n<\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Steve Gelsi\",\"subhead\":\"The Wall Street Journal\",\"list\":[,{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/SteveGelsi\",\"text\":\"@SteveGelsi\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Steve_Gelsi\"><\/span>Steve Gelsi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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