Prices are continuing to fall per pound in legal markets
There are high taxes associated with the production and purchase of Legal Marijuana, but that hasn’t stopped prices from sliding under legalization.
In Washington State, legalization precipitated a 65% drop in the per-gram price of cannabis. The current retail price of $7.38 per gram (including tax) represents a 67 percent decrease in just three years of the legalization, with more declines likely in the future.
When speaking with those who’ve been participating in California’s cannabis industry for years, they tell you prices have been declining since the move to decriminalize back in 1996.
“When it first started there weren’t a lot of people growing; you could sell for like $4,000 even $5,000 a pound… pretty much OG Kush went for $4,000 and any other passable indoor went for $3,000,” he said — but now? “People might get $2,200 or $2,800 for indoor – some people still pay like $3,200 for quality,” says Neil Dellacava a grower in California.
What it means for retail: There are a lot of people growing in states where marijuana is legal, and prices are continuing to fall. With falling prices comes a larger potential market, as well as opportunities to create new marijuana products. Retail will see benefits to the bottom line of sales as the product continues to fall in price.
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