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. 2021 May:91:102547.
doi: 10.1016/j.drugpo.2019.08.004. Epub 2019 Sep 12.

Price and product variation in Washington's recreational cannabis market

Steven Davenport  1
Affiliations

Price and product variation in Washington's recreational cannabis market

Steven Davenport. Int J Drug Policy. 2021 May.

Abstract

Background: Ten U.S. states, Canada, and Uruguay have passed laws to legalize the production and sale of cannabis for non-medical purposes. Available research has documented rapidly falling prices and changing product mixes, but many details are not well understood: particularly, the popularity, prices, and product characteristics of different cannabis edibles and extract-based products - each offering different ways to consume cannabis, with unclear health consequences.

Methods: This paper analyzes data from Washington's recreational cannabis market, which has recorded over 110 million retail item-transactions from July 2014 to October 2017. Previous research on price and product trends has focused mostly on herbal cannabis, which accounts for the majority, but a decreasing share, of sales. This paper applies advanced text-analytic methods to provide new insights, including (A) estimating potency data for edibles and (B) identifying extract sub-types. Patterns and trends are described, across product types, regarding THC and CBD profiles and price per THC.

Results: Extracts accounted for 28.5% of sales in October 2017. Of extracts categorized to subtype, nearly half were identified as "dabs", and another half "cartridges". In October 2017, price per 10 mg THC was roughly $3 among edibles, 70 cents among extract cartridges, and 30-40 cents for other flower and other extracts; solid concentrates offered the lowest priced THC among extract products. Price declines continue but have slowed. High-CBD chemovars are becoming more common, but still are almost non-existent in flower marijuana and rare (1% of sales) among extract products.

Conclusion: As Washington's recreational cannabis market has developed over three and a half years, trends identified in that market may serve as an early indication of potential issues in other states. Legislators and regulators in other jurisdictions with commercial non-medical cannabis markets may wish to establish policies responsive to these trends in product popularity, price, and potency.

Keywords: Cannabis; Drug markets; Drug potency; Marijuana.

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Figures

Fig. 1.
Fig. 1.
Share of retail sales by identifiable subtype.
Fig. 2.
Fig. 2.
Comparisons in THC and CBD content.
Fig. 3.
Fig. 3.
Labeled THC/CBD concentration by product type, chemotype (October 2017).
Fig. 4.
Fig. 4.
Regression-based estimates for price per THC by product/subtype over time.
See this image and copyright information in PMC

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