The cost of legal marijuana has seen a substantial drop since the start of legal sales in 2020.
According to data compiled and released by the Maine Office of Cannabis Policy, the average price of marijuana throughout the state as of the end of March was $8.04. This marks a 49% decrease from the average price of $15.83 at the start of legal recreational marijuana sales in 2020.
Prices in other legal marijuana states have seen similar drops. For example, as of the end of February in Massachusetts, marijuana was priced at $7.12, an identical-to-Maine 49% decrease from the $14.09 at the start of legal sales in late 2018.
The total marijuana sales for the state between January and March is around $45 million.
Marijuana was legalized in Maine via the initiative process in 2016. The part of the law allowing for those 21 and older to possess up to 2.5 ounces and grow up to six plants took in effect the following year, but due to legislative delays the first licensed marijuana store didn’t open until October, 2020.
Under Maine’s marijuana law marijuana is taxed at 5.5% for flowers and concentrates, and 8% for edibles.
More sales data for Maine’s legal marijuana market can be found by clicking here.
