California marijuana prices plummet
May 15, 2010
Northern California pot growers are facing a new and serious challenge: Falling prices. [California Watch]
With a more tolerant legal environment and a rush of new growers, wholesale prices for marijuana cultivated in outdoor pot gardens have plummeted this year to under $2,000 a pound–down from a peak of $5,000 to $6,000 a pound a decade ago.
In some parts of the state, pot prices are the lowest they’ve been since the early 1980’s.
Pot growers are supposedly sitting on large stashes of their product up in Humboldt, Trinity, and Mendocino Counties, where marijuana is historically king. Dealers who normally arrive during the winter months to buy local supplies haven’t been showing up.
Some growers can’t move their marijuana at any price. Many so-called pot storerooms up in Humboldt County are still jammed with last year’s product.
The other challenge faced by these outdoor growers is that indoor-grown marijuana is increasingly favored by consumers and dispensaries for its looks, consistency, and potency.