The price per gram of flower has hit its lowest point this year in Connecticut, to $10.86, according to data from the Department of Consumer Protection (DCP). The price isn’t the lowest seen in the state since the launch of adult-use sales last year – from April to October 2023 the per gram price dipped under $10.00 before rising to above $11.00 from November 2023 to January 2024 and then above $12.00 from February through July. Throughout the summer the price per gram hovered over $11.00.
The price drop follows a rise in adult-use cannabis sales in the state which had reached record highs in August – totaling about $18 million – before falling to about $16.6 million in September. Sales in October totaled about $17.3 million and $17.6 million in November, according to the DCP data.
Medical cannabis sales in November reached their lowest point since the launch of adult-use sales to about $6.7 million. Medical cannabis sales in the state only surpassed adult-use sales in the first four months after the launch of the adult-use market and has seen near-continuous decline ever since.
Flower is still the dominant product category in the adult-use market with a 49% market share worth about $265.5 million since the launch of retail sales. Vape cartridges hold a 32% market share (~$171 million), followed by edibles (12%, ~$65 million), concentrates (5%, ~$24.6 million), and “other” (3%, ~$15.7 million) which includes pills, topicals, and tinctures.
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