You are here

Home 🌿 Recreational Marijuana News 🌿 Average price of legal pot drops to about $12 a gram 🌿

Average price of legal pot drops to about $12 a gram

Warning message

The subscription service is currently unavailable. Please try again later.
Submitted by Marijuana News on Tue, 04/21/2015 - 20:19

Marijuana prices have plummeted since stores opened last summer, and the average gram of marijuana in the state’s system now goes for about $12, according to the state Liquor Control Board (LCB).

When prices peaked last summer, a gram was fetching about $30 on average, according to data from the LCB.

 

The aggregated data doesn’t consider the quality of the bud or the effect of bulk pricing, but shows a clear downward trend since the state launched its regulated marijuana market.

Brian Smith, a spokesman for the LCB, said the agency was pleased with the trend.

“The agency was charged with creating a recreational system competitive with the gray and illicit markets,” said Smith. “We thought if we could get it to 12 dollars a gram, we would be competitive, and we got there in a matter of months.”

When stores opened, retailers faced a shortage of pot. Within...

Rate this article: 
Region: 
Washington

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


URL: 
http://www.seattletimes.com/seattle-news/marijuana/average-price-of-legal-pot-drops-to-about-12-a-gram/

420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.