Cannabis Prices Are Going Down Across The Country: Report

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.

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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.”

h/t Axios, Wall Street Journal

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As medical marijuana continues to gain ground across the US, more and more colleges are adding cannabis to their curriculum. In fact, more than half of America's pharmaceutical schools (62 percent) now teach students about medical marijuana according to a new survey conducted by researchers from the University of Pittsburgh's School of Pharmacy. "With more states legalizing medical marijuana, student pharmacists must be prepared to effectively care for their patients who may use medical marijuana alone or in combination with prescription or over-the-counter medications," the study's authors wrote.