Legal marijuana prices plummeting nationwide in 2017

The Green Cross, San Francisco. (David Downs)

Cannabis legalization has led to a drop in the price of pot in 2017, a new report confirms.

According to the “2017 Mid-Year Wholesale Market Report” released by Cannabis Benchmarks, wholesale marijuana prices dropped 18.6 percent throughout the U.S. in the first half of 2017, reports the Cannabist.

Despite the decline, however, analysts found “remarkable” stability when considering the 2016 price volatility and the current anti-pot political climate.

Various marijuana regulations that differ from state to state is the reason why prices can vary considerably throughout the nation, however. The highest average wholesale prices in the U.S. during the first half of 2017 were in Alaska, at $4,190 per pound, while the lowest prices were found in Colorado at $1,280 per pound.

California’s legal market, which is supposed to take effect beginning in 2018, will cause uncertainty in prices going into the last few months of 2017. However, experts say that only a “small fraction” of the state’s commercial pot transactions will be within the legal marketplace due to a predicted…

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