Cannabusiness & News

Nevada’s Recreational Cannabis Prices Remain High

Nevada’s Recreational Cannabis Prices Remain High March 23, 2018Leave a comment

Nevada Cannabis Prices - Buddy Jane

Nevada’s cannabis cultivators have had no problem supplying the state with recreational and medicinal product. The prices are much higher though in comparison with neighboring legal states like Colorado, Washington and Oregon. Nevada will not be running out of weed anytime soon. However, although the state has an abundance of suppliers, there is still not a plentiful amount of herb. This scenario is what fuels wholesale cannabis pricing to remain high versus other legalized markets.

That scenario is about to change fortunately. Many cultivators in the Las Vegas valley have been building out of their facilities to work toward improvements in the grow process, which will in turn, help bring more product into the market. Nevada is limited in cannabis production because it doesn’t offer any outdoor grows. This restricts full production style capacities. The current wholesale price for a pound of flower ranges between $1,800 to $3,500 depending on the quality being sold in the dispensary. This would equate to an ounce of the product going as high as $350.

Better quality should be the goal for cultivators here because quality is what drives price. Quality is based on the popularity of the strain, THC content level and the terpene profile. The higher the THC percentage, the higher the price you can command. If a cultivator does not provide higher quality then they are limited to the price of which various harvests can be sold for.

The trim from cannabis, which is used to produce extracted THC for concentrates, is currently commanding over an average of $600 per pound. Cannabis trim is generally meant to be used to create hash oil and consists mainly of product that fails Nevada’s strict testing measures. These average prices are for trim that has typically failed testing for mold or microbials. The extraction process, however, is believed to remove these impurities when the trim is converted into concentrated shatter, for instance.

Retail prices in dispensaries throughout the Las Vegas valley have slowly been dropping in comparison to original prices. The purchasing of grams and eighths have been most popular. An eighth of cannabis would cost about $60 at that time which have ranged as low as $30. These figures are still relevant to the quality of weed being purchased. Cannabis containing higher THC levels and better terpene profiles is still priced higher generally. Overall, the quality of product will eventually go up even more while prices will drop down and eventually level off. All of this will surely benefit the tourists that come to visit Las Vegas as it’s expected to offer the best of the best in terms of hotels, entertainment, food, and now, cannabis.

By Tracy Jerome Chisley (@PoeticPanther)

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