While it appears the cost of everything is going up–there’s one item that’s seeing a marked decrease in price…Marijuana.
Some smaller marijuana businesses are struggling as the price for their product has plummeted due to oversupply.
According to a recent article published by online news source Bridge Michigan, marijuana prices have dropped by nearly half over the past year.
Consumers are reaping the benefits of price reductions–and larger marijuana producers are picking up bargains in acquiring smaller businesses that are struggling.
While the price per ounce has gone down, experts say sales have gone up significantly–
It remains to be seen how the shift will impact local tax revenue from marijuana businesses.
There are eight dispensaries in Hillsdale County, which received $414,000 in marijuana tax revenue in the most recent disbursement.
The City of Reading and Village of Camden, along with Jefferson Township received shares of the tax revenue as well.
Branch County received more than a half-million dollars for dispensaries in Coldwater and Quincy.