Even as marijuana sales continue to increase in Colorado, pot prices just keep getting lower. In the past year alone, the cost of an eighth of an ounce of recreational marijuana in Colorado has dropped by an estimated 40 percent, from between $50-$70 to about $30-$45. The reason, according to a new report by brokerage company Convergex: the classic law of supply and demand. When recreational marijuana was first legalized in Colorado, only a limited number of dispensaries and facilities were able to distribute the drug. As the state has settled into being weed friendly, the once-small hold on the marijuana industry has begun to widen, driving prices down.
But although costs are declining, the pot market’s growth in Colorado is certainly still healthy. According to the same report, sales of marijuana increased by 98 percent between this April and last, and stores are expected to increase gross earnings by 50 percent in the next year, raking in an estimated total of $480 million. Becca Stanek
Source: theweek.com
