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There is good news for medical marijuana card holders in Missouri - the price of marijuana is going down.
When the state’s first dispensary opened in October of 2020, many residents were shocked at the high prices. In some areas, an eighth of an ounce might cost as much as eighty dollars. Finally, the state is seeing a much-needed price drop that has patients breathing a sigh of relief.
Medical Marijuana has had a slow start in the state of Missouri. When legislation first passed in 2018, residents rejoiced that they would finally be able to get the relief cannabis provides. They would have to wait nearly two years for the first dispensaries to become operational in October of 2020. When those doors finally opened, patients found themselves in sticker shock when they saw how much marijuana going to cost them.
Luckily, the wait for affordable relief may finally be over for Missouri residents. Prices are being reduced statewide as the market for cannabis-based products begins to stabilize and supply and demand rates solidify.
Why is the price of medical marijuana going down?
As more Missourians qualify for their medical marijuana cards, the demand is causing dispensaries to open across the state. Medical marijuana is big business. Kansas City’s Fox 4 News reports over 140 dispensaries have opened across the state in the first year of legislation. More than 400 licenses have been granted. According to Missouri’s KY3 News, 193 of those licenses are for dispensaries. The state has also licensed 59 cultivators and 86 manufacturers, and that number will continue to rise.
The variety of products offered has also increased. When dispensaries first opened their doors, they only sold flower. Now, they sell a wide array of cannabis products, including edibles, vape cartridges, tinctures, and oils.
As businesses across the state compete for customers, the cost of marijuana is seeing a significant drop, making it more affordable for Missouri residents to get the relief they need.
Why were marijuana prices in Missouri so high to begin with?
With newly passed legislation bringing medical marijuana to the state of Missouri, the industry experienced some growing pains. When dispensaries first opened, the local economy was full of unknowns. Dispensary owners, cultivation operators, and product manufacturers were entering a market fraught with government regulations and high start-up costs in an industry the state had never seen before.
Across the state, dispensary customers found themselves asking why prices were so high. High overhead, regulation, and questions of customer demand were all factors that played a part in pricing. The cost was so high that many consumers decided to forego the dispensary and grow their own. Now that business is booming and statewide competition is on the rise, those initially high sticker prices are falling fast.
How low will Missouri medical marijuana prices get?
No one knows for certain, but based on cannabis price trends in other states, it’s safe to predict they should even out once dispensaries meet consumer demand. This means there may be an all-time low coming, especially as dispensaries compete for local business. This will most likely follow a trend where prices rise a bit, then stabilize. The real winner is the Missouri medical marijuana patient, who will be able to get the relief that cannabis provides at a more affordable rate than ever.
Can I stock up on cannabis while prices are down?
If you’re a thrifty consumer, you may find yourself wanting to stock up on medical marijuana while the cost is down. According to the Missouri Department of Health, you may purchase up to four ounces every thirty days. And, according to NORML, “The Department of Health may set limits on the amount of marijuana possessed provided that the limit is not less than a sixty day supply.” So the short answer is that you can stock up a bit, but not as much as a doomsday prepper getting ready for Y2K.
Ready for Relief?
Remember - you can’t take advantage of Missouri’s dropping cannabis prices without your medical card.
If you need help, our doctors have you covered! They can help take you through a quick and easy evaluation process to see if you qualify. Just give us a call at (877) 303-3117 CLICK HERE to schedule an evaluation.
Doctors Who Care. Relief You Can Trust.
At Missouri Marijuana Card, our mission is helping everyone achieve wellness safely and conveniently through increased access to medical marijuana. Our focus on education, inclusion, and acceptance will reduce stigma for our patients by providing equal access to timely information and compassionate care.
Call us at (877) 303-3117, or simply book a medical marijuana evaluation to start getting relief you can trust today!
Check out Missouri Marijuana Card’s Blog to keep up to date on the latest medical marijuana news, tips, and information. Follow us on Facebook, Twitter, and Instagram to join the medical marijuana conversation in Missouri.
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