All Local. All Morning in Everett
Seahawks training camp 2018: Exclusive coverage only on Q13 FOX

Marijuana retailers cope with falling pot prices

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.
marijuana-plants-image

LONGVIEW, Wash. (AP) _ As the price of marijuana continues to drop, Washington pot businesses are struggling to keep up with the changes.

The Daily News reports (http://bit.ly/1O6nqKx ) that since legal marijuana entered the market in July 2014, prices have dropped from $25 to $30 per gram to about $10 a gram now.

According to the Washington Liquor and Cannabis Board, prices are plummeting as new retailers plod the market. Tax changes are also lowering the wholesale price.

Retailers say profits suffered slightly last summer when the stte changed marijuana taxes. There used to be a 25 percent tax on produces, processors and retailers, but since the change there is now a single 37 percent tax at point of sale.

Business owners say they don’t expect prices to fall further, as they are equal to illegal street market prices.