There is a glut in the Washington Marijuana market as falling prices and high taxes have put pressure on many Washington pot growers.
Marijuana growers and processors say the 25% excise tax has caused a supplier-crushing bottleneck. Growers say regulators did not take crop cycle timing into account and instead issued production and retail licenses in a haphazard manner. This has caused the Washington marijuana market to be flooded with product. According to one grower there is a 31,000-pound supply of marijuana in Washington right now. Enough pot to last 10 years at current sales levels.
This kind of oversupply undermines a healthy and stable marijuana industry in Washington as it could drive some growers out of business. However in the short term it’s a boon for consumers and recreational marijuana stores. Wholesale prices have declined 65% since retailers opened their doors in July 2014.
Some recreational marijuana stores have reduced their prices to black market levels….. Read More
Huffington Post and Newsweek reported that a Seattle company called Soltice rolled 12,000 joints to sell over Super Bowl weekend at medical marijuana stores. According to the owner, 6,000 grams of cannabis, about 13 pounds, was used for this massive marijuana joint production project. The joints were then offered for sale, 12 to a pack in what resembled a standard cigarette pack. The joints were a combination of strains called Blueberry Cheesecake and Headband and sold for about $70. These were sold at medical marijuana dispensaries however Soltice representative said that they will “absolutely” have these 12 packs of joints available for sale at recreational marijuana stores later this year. The company is opening what it terms “the first licensed processing facility”. Read More……..
Snoop Dogg –
Meanwhile music celebrities like Bob Marley’s family and Snoop Dogg are investing in the budding pot industry. Read More………..
Growing Marijuana at home –
It’s legal for adults over 21 years of age to grow limited quantities of marijuana in states such as Colorado, Washington (medical only), Alaska, (after Feb 25th) and Oregon (after July 15th). But remember it’s a complex task so get the book Growing Elite Marijuana which gives you step-by-step guidance. Also check out My Weed Seeds for good quality seeds that will give you a successful crop.
This week the first marijuana vending machine was unveiled in Seattle at the medical marijuana dispensary, Seattle Caregivers. The machine was manufactured by an Arizona based company called American Green. It is climate controlled and completely self-service. The machine scans ID, verifies the person’s identity and accepts cash as payment. Machines dispensing marijuana edibles have been functional in Colorado since last year but this is the first machine to sell the actual marijuana plant. The machine is called ZaZZ and will available in Washington recreational pot shops later this year. Read more……
Colorado DUIs for Marijuana on the Rise
About 12% of Colorado’s DUI citations this year have been for people under the influence of marijuana. Many of those arrested said they did not know that DUI laws applied to marijuana. Please be careful and don’t drive high. Read more…
Big Discounts on Marijuana Edibles this Weekend.
Marijuana edibles comprise 45% of the Colorado cannabis market. New regulations for marijuana edibles go into effect on Feb 1st. As a result marijuana edibles are on sale at big discounts right now! This includes candies, brownies and drinks. Some shops are offering up to 50% off.
Where To Buy Discounted Edibles?
Some of the recreational pot shops that are offing deep discounts on marijuana edibles is Euflora. Contact your local recreational pot shop to inquire about their edible marijuana discounts!
Washington’s highest-grossing recreational pot shop for 2014 was New Vansterdam in Vancouver. Some attribute its success to its proximity to Portland, Oregon, which has a population of 600,000. In any case, the store recorded sales of $3.2 million during the period of July through December 2014.
In second place was the recreational pot shop, Cannabis City of Seattle, which generated $3.19 million in total sales during the same period. You can read the full article at Seattle PI. Growing Marijuana at home
It’s legal for adults over 21 years of age to grow limited quantities of marijuana in states such as Colorado, Washington (medical only), Alaska, (after Feb 25, 2015) and Oregon (after July 15, 2015). But remember it’s a complex task so get the book Growing Elite Marijuana which gives you step-by-step guidance. Also check out My Weed Seeds for good quality seeds that will give you a successful crop.
According to the magazine, US Weekly, Bethany Frankel is planning to get involved in the recreational marijuana industry. The inspiration reportedly came when she toured a recreational pot shop in Aspen, Colorado while on a skiing vacation. After the tour she tweeted:
OMG it’s the craziest thing to see marijuana legal in Aspen. People walking into pot stores like it’s the @Gap #prohibitiondone
— Bethenny Frankel (@Bethenny) December 21, 2014
According to news reports, Frankel’s Skinny Girl brand would feature marijuana strains that get a girl high but with less tendency for the munchies afterwards. It remains to be seen if this will come to fruition.
Growing Marijuana at home
It’s legal for adults over 21 years of age to grow limited quantities of marijuana in states such as Colorado, Washington, Alaska, (after Feb 25th) and Oregon (after July 15th). But remember it’s a complex task so get the book Growing Elite Marijuana which gives you step-by-step guidance. Also check out My Weed Seeds for good quality seeds that will give you a successful crop.
A few days ago Bloomberg News reported that prices at recreational pot shops in Washington state have dropped by as much as 40%.
Then and now
Initial prices for recreational marijuana in Washington were quite high. This was due to multilevel taxation and supply shortages. Since then the state has licensed additional growers and processors and prices now average about $15 per gram compared to the $25 per gram rate of July 2014.
While there are still price challenges, due to what is effectively a 44% tax, this is a big step in the right direction. To complete with the black market, recreational marijuana prices need to be competitive. With black market marijuana grams being sold for $10 we are not quite there yet.
There is no intrinsic reason for pot to cost 25 times the cost of the precious metal, silver. The only thing that makes marijuana expensive is its scarcity. In the coming years, as growers compete more intensely and more and more people cultivate legally at home, we will see marijuana being sold at prices far, far below the prices we see on the black market. I envision a day, in the near future, when ounces of good quality, recreational pot will be routinely sold for $50.
Marijuana arrests have increased at Yellowstone National Park in Wyoming. This is because the possession of even small amounts of recreational or medical marijuana on federal land is illegal. This is true even for national parks residing within Colorado and Washington state where marijuana possession is permitted. Many violators spend the night in jail, receive a misdemeanor conviction and a $1,000 fine.
What to do if you’re apprehended
Motorists questioned by police should know that anything they say can and will be held against them. According to one attorney when law enforcement asks: Do you have any marijuana in your car? Many respond by saying ‘yes’ and in that case “there’s not a lot a criminal defense attorney can do.”
Smoke only on private property with permission
Also keep in mind that in states where marijuana possession is legal there are limitations on where it can be consumed. In Colorado and Washington state, for example, one cannot smoke or consume recreational pot in public places like concerts, ski slopes or in one’s car. Marijuana can only be consumed on private property with the property owner’s permission. So if you are staying in a hotel, be sure to check with management on the pot smoking policy.
It has been a huge week for recreational marijuana in the U.S.A. Three things have happened.:
1) The US Justice Department reported that it had informed Indian Country Tribes that they “may propose” to have marijuana legalized on their reservations. So far no tribe has made any such request and if they did the federal government would have the final say on yes or no. However, this announcement opens the door for the possibility that recreational marijuana could be possessed and consumed on tribal lands. Even when tribal lands reside within the borders of a state in which recreational marijuana is illegal.
2) The US Congress ended its federal ban on medical marijuana. This sends a strong message to states that have not yet legalized marijuana and makes the concept even more palatable to voters. It will surely influence politicians to be more liberal in their thinking about legalized marijuana, whether medical or recreational. Furthermore, it shows the federal government is obviously moving, albeit slowly, in the direction of national recognition of the trend to end marijuana prohibition.
3) Just today (December 19, 2014) it was announced that the states of Nebraska and Oklahoma have asked the US Supreme Court to reverse Colorado’s marijuana laws. We will wait to hear what the legal pundits say but in my opinion this is not going to fly. In my opinion it is a thinly veiled attempt to apply pressure and convince Colorado to give their neighboring states a portion of their recreational marijuana tax revenues. According to Nebraska officials they have had an increase in their law enforcement costs at places along the Colorado border and are being asked to bear an increased expense with no increased revenues.
December 12, 2014 — Today the U.S. Justice Department issued a statement saying that it would not interfere with Native American tribes who choose to legalize marijuana on their reservations. No immediate changes are expected but this move by the Justice Department opens the possibility of recreational marijuana being legalized for purchase and consumption on Indian reservations even those located in states where marijuana is illegal. It’s too soon to tell if any Native American tribes will take advantage of this legal marijuana loophole but it creates some interesting possibilities for the future of the marijuana movement and industry.
adminUS Government says Indian Reservations May Legalize Marijuana in Any State