The most recent Weedmaps price index for an eighth of marijuana in established and emerging markets in the United States and Canada shows just how out of sync the economies of weed are in this era of patchwork legalization.
The average price of an eighth — 3.5 grams if you think and shop in metric measurements — varies across the U.S. from a low of $29.37 in Portland, Oregon, to a high of $53.19 in Oklahoma City.
For this report, Weedmaps uses its international listing service for dispensaries and their products, selecting a representative sample of American cities and states, plus Ontario, Canada, to compile the average price of all currently published menu-item eighths. Oklahoma City is one of four new cities added to the list, which now also includes Baltimore, Phoenix, and Washington, D.C.
The spread between the lowest and the highest prices in July 2019 is $26.19. A number of factors feed into the disparity.
In the five years since Oregon legalized marijuana, the state has so successfully built its cannabis industry that it is now facing an enormous oversupply. In December 2018, a single gram of weed was reportedly selling for as low as $5, down from $10 in October 2016. By those figures, that translates to a 2018 low of $17.50 an eighth.
Ample supplies don't always suppress prices, however. Oklahoma City topped the list with the most expensive weed at $53.19 an eighth. Oklahoma's broad availability and a high density of dispensaries relative to the population haven't lowered prices so far. The Oklahoma Medical Marijuana Authority lists 388 dispensaries in Oklahoma City, with a population of 643,600. The metropolitan area, the 41st largest in the U.S., counts 1,396,445 people.
In Los Angeles, the city's Department of Cannabis Regulation has registered only 186 retail cannabis businesses to serve a city of nearly 4 million people. Yet Weedmaps analysts found that an average eighth of marijuana in Los Angeles costs $37.25 in July 2019. That's virtually unchanged from the October 2018 price of $37.46.
The least costly eighth in the Weedmaps analysis? Ontario, Canada, where an eighth cost about US$27. Observers assume that a strong dollar and widespread legal availability contribute to the low price.
How does your city stack up? Check out our chart, below:
Weedmaps News
The post How Much is the Price of an Eighth Where You Live? appeared first on Weedmaps News.
* This article was originally published here
This article provides a fascinating glimpse into the evolving landscape of cannabis economics across North America. It's incredible to see how varying degrees of legalization impact prices so dramatically between regions. The disparity highlights the complexities of transitioning from illegal to legal markets, and it makes one wonder how long it will take for these markets to stabilize. It's also a reminder of the importance of comprehensive policy and regulation to create a balanced and fair cannabis industry. Looking forward to seeing how this progresses in the coming years!
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