The price of cannabis is falling across the country as states legalize for medical and recreational use, the Wall Street Journal reports.
While the cannabis industry has brought in more than $6 billion in retail over the last few years, data from BDS Analytics shows sales increasing and prices dropping more rapidly than growers and sellers in Colorado and Washington state would like.
Since 2015, prices have plummeted from $2,133 a pound to $1,614 a pound.
"Marijuana growers are struggling to find ways to make a profit. Some are attempting to set themselves apart by touting "organic" products – plants grown outside with sunlight instead of indoors with heat bulbs,” writes Stef W. Kight for Axios.
“The more cannabis grown, the lower prices will continue to get. More consumption would help, but growers and retailers have to be careful about pushing for that.”