Marijuana prices dropping

As marijuana moves closer to a legitimate business, more growers are flooding the market and driving prices down.

An incredible glut of marijuana is moving throughout the country,” says Charley Custer, secretary of the Humboldt Medical Marijuana Advisory Panel in Northern California and a grower for 25 years.

“We’re creating a national phenomenon of overproduction as medical marijuana spreads to more and more states, and the technologies of growing it in your closet become better known,” Custer adds. “Every year there’s an incredible glut now, and that will continue until the bubble bursts.”

Five years ago when Beaumont began growing outdoors in Northern California, he says a pound of high-quality indoor grass could bring up to $4,000. Today that price is as low as $2,000 and dropping. Prices for outdoor grass, he says, have plummeted to as low as $700 a pound.

Read more at Willamette Week.

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