In New York, where the illuminated displays of dispensaries are becoming part of the everyday landscape, a silent movement has been catching the attention of consumers and experts: the price of legal cannabis is dropping.

According to the Cañamo website, the average 17% reduction in a year is not just an economic data point, but a reflection of a maturing market that gains new players and gradually tries to compete with the long shadow of illegal trade.

The average unit price of cannabis products in the legal New York market has dropped from $38.61 to approximately $32.15 since 2023. This value includes flowers, edibles, concentrates, beverages, and vaporizers, as reported by the Cañamo website.

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However, the price drop is not uniform across the state. In New York City, the average spending per purchase is $33.15; whereas in the Buffalo region and the western part of the state, the price drops to $26.39, one of the lowest ranges recorded.

On the other end, in places like Long Island, the price per sale reaches $41.41, mainly influenced by the lower number of licensed dispensaries.

Expansion of the Legal Market and Increased Competition

The price drop accompanies the expansion of the regulated market, which now exceeds 500 licensed dispensaries in operation. The entry of new cultivators and processors has increased supply and intensified competition, reducing wholesale costs and allowing some of these savings to be passed on to the consumer.

Nevertheless, the illicit market remains a direct competitor. Without licensing costs, quality control requirements, or taxes that can reach 13% on legal products, underground sellers continue to offer lower prices, posing a persistent challenge to the regulated sector.

To try to balance this competition, the state has allowed dispensaries to offer discounts to veterans, seniors, teachers, and emergency professionals, in a strategy to make the legal market more attractive and accessible.
 

Source:Cañamo.Net.