It\u2019s getting cheaper to get high in New York.<\/p>\n
The average price of pot has plummeted 17% since legalization in New York state, with a market ramp up that has boosted the availability of marijuana brands in more stores, industry officials said.<\/p>\n
In 2023, the average \u201cunit price\u201d for cannabis was $38.61. It\u2019s now $32.15, the state Office of Cannabis Management reports.<\/p>\n
The average price of pot has plummeted 17% since legalization in New York state. Helayne Seidman<\/p>\n
The number of licensed pot stores in the Empire State has soared past 500<\/a>, stocking products from a growing group of farmers growing marijuana and more cultivators manufacturing gummies, vapes and even beverages.<\/p>\n Regulators with OCM said it\u2019s normal for prices to come down as more pot stores open and more products become available, spurring competition, as has happened in other states that legalized marijuana.<\/p>\n \u201cCompetition is high. We have all these brands fighting for shelf space,\u201d said Britni Tantalo, president of the New York Cannabis Retail Association. <\/p>\n \u201cWe are seeing more doors open,\u201d Tantalo added, referring to the dramatic increase in retail dispensary openings.<\/p>\n The number of licensed pot stores in New York City has soared past 500. Stefano Giovannini<\/p>\n The average price per unit covers the sales of all cannabis products in the market that includes weed, edibles, concentrates, beverages and vaporizers.<\/p>\n For instance, an ounce or 28 grams of weed in \u201cflower\u201d form could cost $100 to $125, a 50% markup from the wholesale price.<\/p>\n \t\t\t\t\t\t\tStart your day with all you need to know\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\tMorning Report delivers the latest news, videos, photos and more.\t\t\t\t\t\t<\/p>\n \t\t\t\t\t\tThanks for signing up!\n\t\t\t\t<\/p>\n A joint can go for $10, while a pack of five mini joints or pre-rolls or 2.5 grams could run $25. Vapes at 1 gram could cost $30, according to a pot retailer.<\/p>\n \u201cThere are more cultivators and processors now. When we get a lower wholesale price, we can pass along a lower cost to the customer,\u201d said Osbert Orduna, CEO of The Cannabis Place in Middle Village, Queens.<\/p>\n The average price per unit covers the sales of all cannabis products in the market that includes weed, edibles, concentrates, beverages and vaporizers. Helayne Seidman<\/p>\n \u201cIt\u2019s a good thing. It makes us more competitive with the illicit market,\u201d he added.<\/p>\n Illegal pot dealers don\u2019t have the overhead costs or have to pay the 13% in taxes <\/a>that licensed weed operators do to feed government coffers, he noted.<\/p>\n Prices will do down further after pot merchants just got the ok from the state to offer promotional discounts on their <\/a>products \u2014 to veterans, seniors, teachers and first responders, Orduna said.<\/p>\n The New York market has hit higher ground after a rocky two-year rollout marred by lawsuits and bureaucratic snafus.<\/p>\n Weed products in New York are still more expensive than the national average of states where marijuana sales are legal, according to the OCM.<\/p>\n According to the OCM, weed prices in New York are still more expensive than other states where the drug is legal. Helayne Seidman<\/p>\n In New York City, the average price for the purchase of cannabis is $33.15.<\/p>\n But it\u2019s only $26.39 in the Buffalo\/Western New York region, the lowest in the state to get a buzz.<\/p>\n Long Island weed is the most expensive \u2014 $41.41 per sale.<\/p>\n