Wholesale marijuana bud prices in Colorado set record
The median price of a pound of marijuana flower sold or transferred to a retail store in Colorado rose to a record $1,316, according to the most recent state data. The price, based on sales between Aug. 1 and Nov. 30, will serve as the average wholesale market rate for the first quarter of 2020 for tax purposes, the Denver Post reported. The most recent price is 68.5% higher than the average market rate of $781 per pound on Jan. 1, 2019.
Cannabis vape products recalled in Michigan
The Marijuana Regulatory Agency (MRA) is recalling vape cartridges that failed laboratory testing because they contained high levels of vitamin E acetate, a substance linked to lung illnesses cause by vaping. Many of the vape cartridges being recalled have levels that are more than 500 times the allowable limits, according to the MRA.
For more of Marijuana Business Daily’s ongoing coverage of the vaping crisis, click here.