Legal pot in Colorado and Washington is successfully competing with the black market, the House of Commons health committee heard Tuesday, though illicit sales still account for a sizable portion of the market.
But don’t expect legal marijuana to reduce use of the drug among young people, one expert warned.
Officials from both states said legal marijuana prices have dropped dramatically since recreational sales began in 2014. Sam Kamin, a professor of marijuana law and policy at the University of Denver in Colorado, said there are now calls for a price floor in his state, as prices are dropping low enough that there are concerns about the drug becoming too accessible to young people.
In Washington, which was initially criticized for charging too much tax and making it difficult for the legal market to compete with illicit sales, the tax system was replaced in 2015 with a single excise tax of 37 per cent. While prices of $25 and $30 a gram were being reported in 2014, they dropped to about $10 a gram a year ago and are now at less than $8, compared to black market prices of $9 to $11 a gram at the time of legalization, said Rick Garza, director of the state’s liquor and cannabis board.
Maura Forrest – National Post – September 13, 2017.
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