Michigan Cannabis Flower Price Drops to $80 Per Ounce

Regarding the unhealthy fiscal status found in the cannabis industry, there is an easy answer to getting it fixed. The major cause of the current economic turmoil is threefold. Too many growers, which should self-correct over time as with any business the strong will survive, plus the illegal players and the dispensary pricing control. Let me explain. True the black market isn't going away but if the wholesale price was regulated then the dispensaries wouldn’t be able to buy the cheap stuff (illegal black market) unless they were also cheating. It’s true there are a lot of shady things happening but when the dispos are in charge of setting the wholesale price, there’s little to be made by the grower. The legal grower is the foundation without which there is only the black market growing and selling unapproved weed and who knows what you’re getting. All would benefit from the dispos playing on a level buying field instead of monopolizing the industry. I’m an owner of a grow and can see the writing on the wall which says to vertically integrate, and so we will, but the legally run cannabis industry should regulate the wholesale pricing based on total thc/terpene levels if the growers in particular are going to survive. The general public would buy at the retail price levels just as they did in the beginning of the green rush. The wholesale pricing regulations need to be state and countrywide governed by the MRA or similar agencies. This is what equity looks like from the bottom up.

Craig Whitney - President, New Lyfe Michigan