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Prices For Recreational Marijuana Drop 40% In Washington

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washington state marijuana regulationsWashington State legalized recreational marijuana during the 2012 Election, but it wasn’t until July 2014 that recreational marijuana sales were allowed. At first, prices were unreal. 35-40 dollars per gram was considered to be normal at some stores. Other stores obviously sold it for less, but those were the numbers my friends were paying at some stores. It was a bittersweet, because while it’s great that legal marijuana was being sold at stores instead of on the blackmarket, it was hard to make the argument that legal marijuana would eliminate the blackmarket due to the fact that marijuana was so much more expensive at stores.

Fortunately as more growers came on line and started harvesting, prices started to drop. According to Bloomberg News, prices have dropped by as much as 40% at some stores:

Shortages that plagued the start of Washington state’s legal marijuana market have eased, sending prices in recreational-pot stores down as much as 40 percent.

Seattle’s first pot shop, Cannabis City, ran out of marijuana in three days when it opened in July. Since then, the state has licensed more growers, processors and retailers, increasing supply and reducing prices to an average of $15 a gram, said Randy Simmons, deputy director of the Washington State Liquor Control Board. Prices were as much as $25 a gram in July, including taxes.

In order for legal recreational marijuana to succeed, prices have to be reasonable. They don’t have to be at or lower than the blackmarket necessarily (although that would be optimal), but they have to be close enough that people aren’t turned off. A big reason for high prices in Washington is taxes, which blackmarket dealers obviously don’t have to pay.

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44 Comments

  1. Too bad in Washington it’s still not legal to grow your own unless you are a licensed commercial or medical producer, which is absolutely absurd.

  2. Mr. Smarty Pants on

    The black market is supplied by home medical grows and collective gardens. Get rid of those, and you get rid of the black market. Make everyone equal, it is the only fair thing to do. The taxes will help ensure marijuana stays legal. If you aren’t paying into the system, you aren’t supporting legal weed in our state!

  3. In washington prices are getting down to 800 dollars a pound leaving growing facilities. A flat tax of of almost 600 bucks is going to give you an artificially inflated bottom to the price of end product. Using a percentage that scales with the changes in price would make much more sense unless you are specifically trying to make sure that prices can’t drop below a point.

  4. Those individual products deflated, but the dollar is steadily inflating. That is what he was referring too. Your dollar isn’t getting worth more(also known as deflation). neither of you are wrong you are using a word differently.

  5. ¿dónde está mi weed.It.s 04:20 on

    If Washington is going to to going to compete with the black market on sales they need to start by overturning these unconstitutional city bans on retail sales It’s bull shit.I ask my self is it worth the the long ass trip to the nearest retailer when I can have it delivered to my front door for free ????

  6. You’re wrong…

    From Wiki:
    “In economics, deflation is a decrease in the general price level of goods and services”.

    Both items (gasoline and cannabis) have decreased from former higher price levels. Hence this is EXACTLY the textbook definition of deflation. Go argue with them…

  7. Those that can grow efficiently, on a large scale, will be able to manage just fine, providing plenty of product, while making a healthy profit. I know a few folks who already have the knowledge, and money to proceed, and they are not likely the only ones with the capacity to do so. I can’t foresee a real shortage happening.

  8. Thanks I forgot about industrial hemp and the name. I agree with you on everything. I’m 1/2 Canadian so that makes it a little more interesting when I view American politic’s.

  9. Washington’s legislative session begins tomorrow. The only cannabis issue on the horizon I see happening will be on the 502 rec. side. They intend to revamp I-502 to allow home grows. One problem (and most likely the reason rec. grows weren’t included into WA.’s 502 law) is affordable housing activists are up in arms over what they view as discrimination of renters vs. mortgage holder’s. This because over one half of Seattle’s residents rent. This happened because in Seattle ( America’s fastest growing city), housing/condo prices are ridiculously over-priced and inventories scarce to non-existent. Just where does the city/county put 70,000 new residents a month moving to Pugetolpolis ?Most apartment manager’s and Mgmt Companies policies (many based out of state or Asian based) don’t allow cannabis grows on their property, (although many people do it anyway). The only way this issue gets resolved is when cannabis is rescheduled federally. But who knows when this might happen? Nevertheless, it’s becoming a hot political issue. Unfortunately I foresee future anti-discrimination lawsuits on the horizon. Another hot issue is the disparity between the number of plants allowed to be grown. Here we will see an even more intense (if that’s possible) reaction to recreational grows vs, medical grow limits. The new grow provision will probably be similar to Oregon’s or Colorado’s 4-6 plants etc. Medical activists won’t accept that if the state decides to integrate the two systems (still doubtful) but medical activists in Seattle are pro-active and very vocal to say the least. They want to ensure grow limits address medical patient needs which is currently a 16 plant, 48 ounce flower limit, under the states 1998 medical marijuana law. It should be interesting.

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