Connecticut’s Department of Consumer Protection (DCP) published a new dataset, showing the price per gram of “usable cannabis” sold in the state’s adult-use cannabis and medical marijuana markets, according to a March 11 press release.
The dataset’s category “usable cannabis” essentially means flower and includes raw flower in whole, ground, or pre-rolled form, without additional extracted materials.
Currently, a gram of cannabis in California is hovering around $12 per gram, which is slightly up from years prior. The Register Citizen reports that the average price per gram of cannabis in Connecticut has increased steadily for months since October 2023, when the cost of cannabis was at $9.68 per gram—its lowest since adult-use sales kicked off in the state. The price of flower in Connecticut has increased, going from an average of $11.93 per gram in January to $12.28 per gram in February.
“In February, the average price per gram of usable cannabis was $12.28,” the announcement reads. “The new dataset includes data collected since the market opened in January 2023.”
According to High Times Trans-High Market Quotations in the March issue, which does not track the price per gram, the average price of an ounce across America was $296. This means that when you’re buying in bulk, the average price per gram dips to around $10.
The state recorded $15.6 million in adult-use cannabis sales during the month of February, plus an additional $9.4 million in medical cannabis sales, for a total of $25 million in total cannabis sales, state data shows. It represents a $2.6 million decrease in total cannabis sales from January, when sales were down $2.6 million from the previous month.
The dataset was added as part of the Department’s monthly data release, which to date has included total retail sales, number of products sold, average product price, and types of products sold. The most recent data for each dataset have also been published in accordance with the Department’s monthly cannabis data schedule.
The data will continue to be updated monthly on or after the 10th of each month. Going forward, DCP will make announcements when new datasets have been made publicly available, and the DCP will no longer issue monthly press releases related to existing datasets.
Reporters and members of the public who are interested in new monthly data published to existing datasets should check ct.gov/cannabis monthly on the 10th or the first business day after the 10th of each month.
The data does not include taxes collected at the point of sale on adult-use transactions, and medical cannabis patients do not pay taxes.
Connecticut Doubles Limit on Cannabis Purchases
Last November, Connecticut regulators doubled the amount of adult-use cannabis consumers can purchase in a single transaction.
Connecticut’s cannabis regulatory agency announced an increase in the amount of cannabis that can be bought in a single transaction by doubling the state’s limit on recreational marijuana purchases. Under the new regulations approved by the DCP, adult-use cannabis consumers are permitted to purchase up to a half-ounce (about 14 grams) of cannabis flower or its equivalent beginning next month.
The limit on purchases of medical marijuana has not been changed. It remains at 5 ounces of cannabis flower or the equivalent monthly, with no limits on purchases in a single transaction.
“DCP has continually reviewed available supply and demand since prior to the launch of the adult-use cannabis industry in January 2023,” DCP Commissioner Bryan T. Cafferelli said in a statement from the agency. “As more retailers, production companies and other supply chain licensees have come online, the capacity of the industry has increased. We are confident this measured approach to adult-use sales has resulted in a healthy market for businesses, and a safe and fair marketplace for adult-use cannabis consumers and medical marijuana patients.”
Connecticut collects data through BioTrack, the state’s Seed-to-Sale Tracking System, a real-time inventory system used to track an individual cannabis plant from the point it is planted as a seed or clone to the point of sale.
All medical and adult-use cannabis licensees are required to input data into this system, showing the movement of cannabis products as they are grown, manufactured, tested, and ultimately sold. (Information about the person who purchases the final cannabis product is not recorded.)
Connecticut officials record cannabis sales data every month, so you can map the steady march of adult-use cannabis sales by looking at month-to-month sales on one of their many graphics.
H/T: hightimes.com
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