Legal pot, under the guise of the California's medical marijuana laws, has spurred a rush of new competition. As a result, the wholesale price of pot grown in these areas is plunging...Further details at NPR. Photo credit Justin Sullivan/NPR.
Prices are now much less than $2,000 a pound, according to interviews with more than a dozen growers and dealers. Mendocino County Sheriff Tom Allman says some growers can't get rid of their processed pot at any price.
"We arrested a man who had … 800 pounds of processed," Allman says. "Eight hundred pounds of processed. And we asked him: 'What are you going to do with 800 pounds of processed?' And he said, 'I don't know.'"
...He says the drop in pot prices is in part the result of more growers and a more tolerant legal landscape. But he says another factor is quality. Indoor-grown marijuana is increasingly favored by dispensaries and consumers for its looks, consistence and potency. It costs more to produce than pot grown under the sun, but commands as much as double the price. That's one reason retail prices haven't hit the skids...
23 May 2010
Marijuana prices are plummeting in California