Virginia medical weed prices rank among highest in U.S.
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Virginians are paying some of the highest weed prices in the nation through the state's medical marijuana dispensaries.
Why it matters: High prices have been cited as a pain point for Virginia medicinal weed patients, one that can push them out of state or to the black market.
By the numbers: Virginia patients pay just over $10 per gram on average for medical flower, per the latest stats from the Virginia Cannabis Control Authority's public dashboard.
- It was at $10.16 per gram for February and is set to tick up to $10.19 for March when the dashboard updates this week, CAA spokesperson Jessica Fullerton tells Axios.
- Meanwhile, through retail markets, Californians and Coloradans have some of the lowest average gram prices in the nation — last year they were $2.36 and $3.29, respectively, per Cannabis Business Times.
- Nationwide, medicinal marijuana generally costs anywhere from $5 to $20 per gram, per LeafWell.
The maturity of the market, state and local taxes, the quality of the strain, and inflation can all affect the price, both publications note.
Yes, but: How many people are using a program can also affect the price — and does affect the price in Virginia, CAA said in a statement to Axios.
- The other factor driving up Virginia's comparatively higher weed prices, per CAA: the state's "vertically integrated system," which requires one business to grow, process and sell the product.
- That's an expensive upfront cost, which the business ultimately passes on to consumers.
What we're watching: If Gov. Abigail Spanberger signs the bill that would create Virginia's retail weed marketplace.
- Research suggests that retail sales bring down the price of medicinal weed.