In Part I and Part II of this 3-part series, we compared and contrasted registered medical cannabis patient’s price per gram for Dry Flower and Extracts before and after adult-use legalization, as well as adult-use and medical prices. In Part III, we do the same for the price per gram for RSO, Edibles, and Infused Drinks in Illinois.
According to statistics from the Cannabis Regulation Oversight Office (CROO), the price per gram for RSO for registered medical patients actually increased since adult-use legalization. RSO, which was not tracked as its own category until adult-use legalization, started at $58.30 per gram January 2020. During the early months of adult-use legalization, RSO price per gram skyrocketed to an all-time high of $69.52. Price per gram steadily decreased until it reached a low of $52.51 December 2021. From there, the price-per-gram trend line increased and is now at $61.51.
April 2016, Edibles price per gram started at $12.66, and after a year of sales, price per gram fluctuated between $17-$18. Shortly after Gov. J.B. Pritzker signed into law the Cannabis Regulation and Tax Act on June 25, 2019, Edibles price per gram has steadily increased and peaked at $27.16 June 2021. Since, price per gram has slowly decreased to the July 2023 total of $22.31, which is $3-$4 more than the average cost before adult-use legalization.
The price per gram for Infused Drinks followed the same trend line, in that, after the initial stabilization of the medical cannabis market, the signing of the Cannabis Regulation and Tax Act increased price per gram for medical patients from a low of $24.38 April 2019 to peak of $40.28 January 2020, the first month of legalization. From there, though, Infused Drinks price per gram have steadily dropped, as more drinks compete on the Illinois market, to the current all-time low of $19.67 (July 2023).
As reference, Illinois implemented the Compassionate Use of Medical Cannabis Pilot Program Act January 2014. On June 25, 2019, Gov. J.B. Pritzker signed into law the Cannabis Regulation and Tax Act. August 12, 2019, Illinois expanded the medical cannabis program to include an additional 11 conditions and changed the Act from a pilot program to a permanent program. January 2020, Illinois implemented the Cannabis Regulation and Tax Act that legalized recreational cannabis use.
Click here for Part 1 and Part 2 of this series in which we compare and contrast prices per gram for Dry Flower and Extracts. For more Illinois cannabis industry news, visit here.
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To qualify and receive a medical patient card at a discounted rate, visit here.
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