The Price of Marijuana
Marijuana is not only a medicinal drug, it is a commodity. And like any other consumer goods, marijuana has also suffered from inflation. Taking back through history, marijuana was sold as an illicit drug during the 70’s. Fast forward to today, it is now more of a commercial produce, succumbing to economics where its prices are now duly governed by the supply and demand theory. During the early 80’s, marijuana was sold between $300 and $600 per pound. Prices increased in the 90’s to $200 to $4000 a pound with the average pound selling at about $800. For those who can afford, Sensimilla, a higher and more potent concoction of cannabis that had a higher THC content was sold at about $700 to $8000 per pound with the average pound going for about $1300.
Due to the increasing supply of this drug and the proximity of the border to Mexico, marijuana’s value has taken a full swing throughout the 90’s. Today, Marijuana can be purchased in Mexico for $100 to $200 per kilogram. Along the southwest border, Mexican marijuana goes for $400 to $1000 per pound and can also be bought for wholesale for $150 – $300 a pound. In the northwest and Midwest sections of the US, the average price of marijuana runs from $700 to $2000 per pound. California sells it at a high for about $2000 to $6000 per pound.
About a decade ago, statistics showed that the US spent $10 billion on marijuana in a year. That statistic was predicted to be doubled 10 years after taking it to $20 billion. As for the remainder of the world, wholesale marijuana prices significantly vary. In Canada, Sensimilla sells for about $2000 to $2500 a pound. In Columbia, it is about $1000 – $1500 per pound. In Hawaii, marijuana averages out at $2000 to $2500 a pound while in Jamaica it goes for $1500 to $2000. In Asia, Thailand sells marijuana for $200 to $3000 per pound.
With such an economic history, marijuana is seen to be a commodity that will stand through time and serve a variety of markets. Marijuana is seen to be profitable and indeed a commercial asset. No matter what the price, marijuana is sure to be served to its patrons.
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