After reporting that Illinois adult-use cannabis prices were highest in the country, we decided to publish a 3-Part Series highlighting how recreational legalization in Illinois has affected price per gram for medical patients. Part I of this series focuses on Dry Flower pricing per gram.
According to statistics from the Cannabis Regulation Oversight Office (CROO), starting with the cost of dry flower per gram from the beginning of the Compassionate Use of Medical Cannabis Pilot Program Act, medical patients in Illinois paid $10.38 per gram in January 2016, the first month of medical cannabis sales. The per-gram cost tapered off for the next three years, hovering mostly in the $9-range (with the lowest cost reaching $8.83).
On June 25, 2019, Gov. J.B. Pritzker signed into law the CRTA, and as cultivators started producing recreational and medical cannabis during the following months, medical prices, leading into the first days of recreational legalization, increased from $9.98-$11.28 per gram. In January 2020, medical cannabis prices skyrocket from $12.55 per gram to an all-time high of $14.08 per gram in February.
For almost all of 2020, price per gram very slowly decreased, hovering around $13. For 2021 monthly totals, price per gram decreased to around $12. For almost all of 2022, price per gram hovered around $11-$12. From January 2022 to July 2023, price per gram decreased from $12.08-$9.39, which is still more than 50 cents higher than the lowest watermark pre-adult-use legalization.
As such, registered medical cannabis patients are paying about the same price per gram as they were at the beginning of the program, almost seven years ago. In contrast, price per gram for recreation flower decreased more than 40%, from $17.06 in January 2020, the first month of legalization, to $10.03 in July 2023. Price per gram for recreation flower topped out at $17.50.
As reference, Illinois implemented the Compassionate Use of Medical Cannabis Pilot Program Act in 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.
Stay tuned for Part 2 and Part 3 of this series when we compare and contrast product prices per gram for extracts, edibles, RSOs, and infused drinks. 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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