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- Fueled by increased competition and industry-wide efficiency gains, cannabis flower prices (especially wholesale) are falling markedly.
- Since 2015 the average price of a pound of wholesale flower has dropped by 58%, from $2,007 to $846 per pound in July 2018.
- As extract-based products (e.g., concentrates) gain popularity, demand for trim used for oil has increased, along with pricing.
- Producers not minimizing production costs or maximizing efficiency find it especially difficult to compete against best-in-class producers.
- Evolution of the industry is paced by three key dynamics: downward price pressure, increased competition, and more regulation.
- Keys for success include tracking operational performance and enhancing efficiency with lower costs, robust financial/accounting practices, and agility to meet shifting industry dynamics.