Demand surging, yet prices dropping for recreational marijuana in Michigan

by:John Domol

GRAND RAPIDS, Mich. (WOOD) — Observers say, the recreational marijuana industry is becoming more of an influence in the state’s economy.

Michigan’s Marijuana Regulatory Agency reports that while prices are falling, while sales are on the rise.

Regulators say the industry is broken up into two sections: medical and recreational. Medical is more restrictive and requires a special license, but recreational can be sold to anyone over 21.

Dean St. Peter, co-founder of ArCanna, a cannabis shop in Ionia, said, “The medical market is a lot cheaper than the recreational market. There’s a lot less taxation too. There’s an additional 10 percent excise tax on recreational cannabis that medical does not have.”

More: WOODTV.COM


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