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The average price for an ounce of legal cannabis in Ohio has fallen about $50 since the launch of adult-use sales four months ago, MI Tech News reports. In August, the average price for an ounce of cannabis in Ohio’s legal marketplace was $261.50; the price as of December 16 was $211.
Adult-use cannabis sales have also dominated medical cannabis sales, with adult-use sales nearly doubling medical cannabis sales in the state since the launch of the adult-use program. Nonmedical cannabis sales totaled $215,274,782 during the first four months of the program, according to Division of Cannabis Control (DCC) data outlined by MI Tech News.
According to DCC data, adult-use sales are nearly twice as common as medical sales, but nonmedical sales have also comprised 5% more of total sales each month by receipt data than they have in total sales by dollar amount. Nonmedical sales in August, for example, made up 58% of total sales and 63% of total transactions, and the trend continues almost to the exact percentage – in November, adult-use sales comprised 65% of total sales in dollars and 70.5% of total transactions. This trend is despite adult-use sales carrying a 10% tax that medical cannabis sales are exempt from.
Ohio cannabis officials proposed new rules earlier this month to allow cannabis pre-rolls, signaling potential growth and diversification in the state’s cannabis market.
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TG joined Ganjapreneur in 2014 as a news writer and began hosting the Ganjapreneur podcast in 2016. He is based in upstate New York, where he also teaches media studies at a local university.
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“}]] [[{“value”:”The average price for an ounce of legal cannabis in Ohio has fallen about $50 since the launch of adult-use sales four months ago, MI Tech News reports. In August, the average price for an ounce of cannabis in Ohio’s legal marketplace was $261.50; the price as of December 16 was $211.
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