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Marijuana growing moratorium?: Supply and demand could lead to changes in Michigan
DETROIT - Marijuana growers in Michigan are making too much product and it’s outpacing demand.
In just the past year, the price for an ounce of flower went down by 44%.
The Cannabis Regulatory Agency is now seeking input on how to solve the problem.
"The agency has been hearing concerns that the supply of marijuana produced by licensed growers exceeds, or may soon exceed, consumer demand. The concerns include that the wholesale price of flower is lower than the cost of production – or will be when harvests are highest in October," CRA said in a statement
CRA listed three potential forms of action for the public to consider prior to their quarterly meeting, which will be held on Sept. 14 at 9:30 a.m.
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