PJ Media encourages you to read our updated PRIVACY POLICY and COOKIE POLICY.
X

August 31, 2017

BE CAREFUL WHAT YOU WISH FOR: High Times, Low Prices.

After decades of dodging law enforcement and fighting for legalization, U.S. marijuana growers face a new challenge: depressed prices. From Washington state to Colorado, wholesale cannabis prices have tumbled as dozens of states legalized the drug for recreational and medicinal uses, seeding a boom in marijuana production. The market is still tiny compared with the U.S. tobacco industry’s $119 billion in annual retail sales, but the nascent cannabis business has grown to more than $6 billion a year at retail. For marijuana smokers, the price drop is sweet news. But for growers —- ranging from high-tech warehouse operations to backcountry pot farmers gone legit -— the price drop has been painful.

Were there any black market producers who thought they’d be able to charge more after legalization?