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The cost of medical marijuana has already come down since the beginning of 2021, and we should see even lower prices this Summer!
People in the state of Missouri have been riding the green wave for the past year, with little to no control over the future of a program they came together to vote into law. Though the medical marijuana industry has become a game of politics since the 2018 vote, most residents just want to know if and when medical marijuana is going to be more affordable.
There is good news for people who qualify for a card in the Show Me State: Prices have already started to come down, and even lower prices are not far off. Let’s take a quick look at why dispensary prices are so high in the first place, and then we will dive right into why we think prices are about to start their descent to a more affordable range.
Missouri Dispensaries Have High Starting and Operating Costs
Check out Why are Medical Marijuana Prices in Missouri So High? for a more in-depth examination of the cost that goes into setting up shop as a medical marijuana business. For those of you who are more interested in just the basics, here is a general list of reasons why cannabis is so expensive, particularly in states where the program is brand new:
Marijuana is still a controlled substance under Federal law.
As a result, most banks will not work with cannabis companies, making it nearly impossible to get a loan and charging steep fees for managing financial transactions.
Insurance policies are sparse and do not cover most losses.
Getting started is super risky, as companies in Mississippi recently learned.
Regulations for medical marijuana are tight, making it more expensive to produce than recreational marijuana.
There was little competition in the program’s beginning (partially due to the politics of the people in charge of the state medical marijuana program).
Businesses are not able to deduct their expenses for tax purposes. This means that their revenue dollars are basically seen as the same as what they pay out for buildings, supplies, and operating costs.
Costs Have Started to Come Down, and The Trend Will Continue
At the beginning of 2021, Wana gummies cost between $50 and $60 at some Missouri dispensaries. And you could pretty much count on flower costing between $60 and $80 for an ⅛. Just since then, the price of gummies has come down to between $40 and $50 at most dispensaries, and flower has come down to mostly between $50 and $60.
While this is still too high for many, we have reason to believe that prices will continue to fall through the summer. Here’s why:
Competition is Expanding
At the beginning of the year, most people outside of KC, St. Louis and Springfield had to drive a couple of hours to get their products. Even in major cities and their metro areas, there were only one or two dispensaries in operation.
Now, there are at least four dispensaries offering a variety of products in each of these cities. Most people now live within a half hour of a dispensary, some locations offer drive-thrus and gearing up for home delivery service, and Missouri Made Marijuana in Joplin is even open 24/7!
Locations like Swade in The Grove are upping their game by integrating into the community with an art gallery and public events, while others are simply offering deep discounts, loyalty programs, and blowout sales for any reason they can think of.
Tax Breaks for Businesses are Coming
Businesses still cannot deduct expenses on their Federal taxes, but they will be able to deduct them from their state taxes as long as Governor Parson signs a bill that unanimously passed both the Missouri House and the Senate. This means huge savings for cannabis businesses that may then be passed along to our patients.
Harvest Time is Around the Corner for Patients With a Home Cultivation ID
It is unclear how many medical marijuana patients in Missouri have obtained a home cultivation ID, but we have no doubt than an abundance of people who have a card also grow their own marijuana plants at home.
Home cultivators don’t need to spend their money at dispensaries when they get their buds for the cost of some dirt and running the lights. They can make their own DIY edibles and DIY concentrates, and they are able to tailor their products to be precisely what they need.
While this is not a source of market competition, dispensaries are still competing with Mother Nature to get home cultivators into their shop. And harvest season is only a couple of months away!
Get Your MO Marijuana Card Now, for the Most Important Savings of All
There are few things that get more expensive than breaking the law, and marijuana is still technically illegal in Missouri unless you have a marijuana card. No one wants to end up with a criminal record when they could be perfectly within the limits of the law as long as they have a card and make their purchases at a licensed dispensary (or grow their own plants with a home cultivation permit).
Get a Missouri medical marijuana card today, in order to make sure your rights are protected, and to take advantage of a market that is finally starting to come into balance with its customers.
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.