The cannabis industry may have survived well amid the virus outbreak that has resulted in stay-at-home residential orders and compulsory curbside pickup/delivery services in some states, but how did it fare prior to the pandemic? 

Cultivation and extraction reporter for Marijuana Business Daily, Bart Schaneman, recently provided an insightful summary into pre-coronavirus wholesale prices for the U.S. recreational and medical cannabis markets. 

Schaneman’s findings were featured in a report titled, “Cultivation Snapshot: U.S. Wholesale Marijuana Prices and Supply.”

Cannabis report focuses on recent coverage of the wholesale market

According to Bart, this is the second report he has conducted into wholesale recreational and medical cannabis prices. In 2018, the report covered six recreational cannabis markets but now, they cover nine. Those markets are as follows: 

1. Alaska 
2. California 
3. Colorado 
4. Massachusetts 
5. Illinois  
6. Michigan 
7. Nevada 
8. Oregon 
9. Washington State

Bart claims that he and his team have seen the emergence of more mature adult-use markets over the last few years, such as Colorado, Oregon and Washington. These markets, he says, have experienced dramatic peaks and slumps. Although a lot of businesses have failed, numerous businesses that managed to survive are currently experiencing climaxing growth; prices have undergone a rebound in many markets. 

Demand is climbing as consumers become keen to explore a broader range of goods. Illinois, Massachusetts and Michigan are demonstrating high consumer demand, says Bart, but supply is constrained, what with cultivators still finalizing the construction of their facilities.  

Summary of medical markets also contained in wholesale cannabis report

The data contained in this report on wholesale medical and recreational markets in the U.S. was gleaned after Schaneman and his team consulted with growers, business owners, analysts and dealers in various markets. According to Schaneman, longer-lasting medical cannabis programs in places like Arizona and New Mexico are starting to reach their full potential. Other medical cannabis markets are still catching up, he states in the wholesale cannabis report.

Separate reports have also shown that prices for wholesale cannabis flower in Illinois are surging as demand outweighs supply. Moreover, new medical cannabis programs, such as Ohio and Pennsylvania, are seeing top-of-the-market figures for wholesale flower — in Arizona, the per-pound cost of wholesale medical cannabis flower is $2,400 for top shelf; in Michigan, the price is estimated at $1,500-$1,600; in Ohio, the price rests at $3,000-$3,200; in Pennsylvania, the per-pound wholesale cost is $6,400-$7,000.

Bart made a point of noting that hard data is difficult to obtain in today’s federally illegal cannabis market. Because of this, he says that the most reliable source for the MJBiz Daily team involves speaking directly with the men and women who are actively participating in the market.

The report can be downloaded for free here.