Marijuana also known as Cannabis has taken a dramatic cost reduction. The cost has gone from $3000 dollars per pound down to $2000 per pound according to interviews with medical marijuana growers and dealers.
California Economics
Cultivation of marijuana has become an economic need for many northern California counties. The many raids that have taken place by drug agents have contributed in keeping the street sales of marijuana high. Now, times are changing. Legal medical marijuana under California’s medical marijuana laws, has pushed the need for more competition. This may explain the decrease of the price per pound.
Supply & Demand
In the 1980’s the price per pound of Marijuana was as high as $5000 per pound. Now with the quality of marijuana going up, customers are requesting quality strains of marijuana. Thus the price of outdoor marijuana seems to be falling. Hydroponic marijuana seems to be the preferred choice of marijuana. Since hydroponic marijuana provides better quality strains of marijuana, this type of growing marijuana seems to be boosting the price of marijuana.
Growers and Medical Marijuana Dealers Demand Quality
In interviewing the marijuana growers and medical marijuana dealers, the demand for quality marijuana has become apparent. Both have taken the approach to supply better quality strains of marijuana. The logic to this is to ensure the marijuana prices maintain a stable price range, while still trying to meet the supply and demand of the public.
In order for medical marijuana to be successful the demand and price of marijuana must maintain an economic balance. In California the vote to use Marijuana publicly is on the ballot. The price of marijuana will be dictated by the measures and accountability of the future.
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