“Just like here in Grand Rapids with craft (beer), I think there’s going to be people who want something a little bit better, a little more unique,” Silva said.
In Oregon, it took time for prices to come down even though that state had a surplus.
Meanwhile, in Oregon, which has had legal marijuana since 2014, the same eighth of an ounce can be purchased for less than $20.
“One of the major growers is now asking $7,000 a pound from independent retailers,” said Wrigley, noting that prices have recently been less than $5,000 a pound. “Why isn’t the attorney general stepping in and taking the kind of action that she would take if these were price gouging gasoline stations?”
But for the first-time marijuana user, the regulated product is a way to enter the marijuana market. Those who use it medicinally appreciate that the marijuana is certified safe.
Wrigley, the marijuana industry attorney, says the blame lies not with the state, but rather with the businesses.
“Testing and the regulatory component definitely adds to the price,” Silva said.
Still, the cost is jolting and could continue to rise.
Why is weed so pricey here?
An eighth of an ounce of marijuana can run you $65 in Michigan, a price point much higher than the granddaddy of legal pot, Oregon.