Demand Lowering Prices on Pot, Related Products in WA
According to a variety of pot store owners in Eastern Washington, the demand for marijuana and related products, such as edibles, has pushed down prices.
Normally when prices plummet they way they have in the marijuana industry, retailers take a hit. But in this case, according to the folks who run Station 420 in Union Gap, it's because of demand.
Edibles, such as brownies, that once sold for up to $150 per gram, are now retailing for around $40.
The supply has been able to keep up with demand, say retailers, and they are due to make as much as $1.5 million in profits (before expenses and taxes) depending upon which store you look at.
Some retailers have taken a hit when the state raised it's tax percentage from 25 to 37% of sales, but these owners say continued demand and sales will help them make that up.
Now, we will see if plummeting prices are going to have any dent on the black market. The supporters of I-502 had said legal pot would drive down prices, and eventually hurt or eliminate the Black Market. It hasn't happened yet.