In the state of Colorado, dispensaries are dropping prices as supply of cannabis increases. This is great news for travelers looking for cannabis-friendly accommodations in states where weed is legal such as the Rocky Mountain State.
In the past year, retail prices of cannabis are reported to have fallen and according to Nicholas Colas, market strategist with Convergex, they have recently stabilized. This conclusion follows an analysis of retail outlets in Colorado.
It has been found that marijuana prices have fallen from around $60 an eighth to the lower rate of $35-$40. If you are looking to buy larger quantities, an ounce would have cost you anything between $300 and $400, and is now available for around $300 or even less. According to Colas, some Colorado stores are selling an ounce of pot for under $200.
Dispensaries claim that it is the increase in competition that has driven the price of marijuana down in Colorado. As more grow facilities open in the state, there is a greater supply of good quality cannabis, and the price of weed has fallen as a result of these factors.
How many pot dispensaries have opened in Colorado?
At the beginning of 2014, there were 204 retail marijuana cultivation facilities and 156 pot dispensaries.
In December 2014, there were 496 retail cultivation facilities and 385 pot dispensaries. So even back-of-napkin maths will show you that the number of marijuana sellers and pot growers has doubled in less than a full calendar year.
It is not however, as dismal a tale for retailers as it might look. They claim that despite the competition, business is good. Customers are increasing, so the demand is still high in Colorado. The weed travel industry is also benefitting from the additional supply and the lower prices of pot. More and more people are in search of cannabis-friendly accommodations in Colorado, and this is good news for Bud and Breakfast.
Most stores say that they have done from the range of 100 to 300 customers a day, to more like 150-350. The weekends are the busiest times for most, and so are public holidays. Summer season has been very positive for dispensaries and growers in Colorado this year, and the weed tourism in the state is also on the up.
The best thing about traveling to Colorado, is that it is totally legal for you to consume cannabis there. If you are thinking of taking a trip, be sure to find cannabis-friendly accommodations so that you do not have to worry about hotels where it is not legal to consume in public.