Posted on 01/16/2015 7:20:24 AM PST by posterchild
SEATTLE (AP) — Washington's legal marijuana market opened last summer to a dearth of weed. Some stores periodically closed because they didn't have pot to sell. Prices were through the roof.
Six months later, the equation has flipped, bringing serious growing pains to the new industry.
A big harvest of sun-grown marijuana from eastern Washington last fall flooded the market. Prices are starting to come down in the state's licensed pot shops, but due to the glut, growers are — surprisingly — struggling to sell their marijuana. Some are already worried about going belly-up, finding it tougher than expected to make a living in legal weed.
"It's an economic nightmare," says Andrew Seitz, general manager at Dutch Brothers Farms in Seattle.
(Excerpt) Read more at finance.yahoo.com ...
Here is wishing them all the failure in the world.
driving price down... cheaper the reefer
On the upside, the cartels are getting out of the marijuana business because they can’t compete.
They need the government to pass a law so it can be mixed with gasoline. /sarc
Good Lord! The price of unintended consequences. I just love it. The dummies on the coast deserve all of this.
fire sale?
“Because of the high taxes on Washington’s legal pot, Seitz says stores can never compete with the black market while paying growers sustainable prices.”
Looks like some of the arguments for legal pot are up in smoke.
The only way to make this work is to cut taxes.
Right, and harder drug use may go down also.
It seems they can compete as many buyers are still preferring the illegal product. The legal product producers have higher tax liabilities.
If it is going to be legal then individuals should be able to grow their own and not have to go through a state licensed facility.
“harder drug use may go down also.”
WRONG!
The cartels are increasing their push of Meth and Heroin.
There is no huge pot of gold to be had by taxing something as easy to grow as a tomato plant.
The Libtardians that claim legalized dope will balance state budgets by taxing it are just blowing smoke. Once legal there is no way to tax it.
Read and see
Market forces at work. There’s a lesson here, if we will learn it.
Might mellow out that impatient tailgater.
This nation learned nothing from Prohibition. Nothing.
I call now on Congress to set-up agricultural subsidies for the excess pot and buy it up for distribution to the poor.
If it’s legal there is no way to tax or control it.
Anyone can figure out how to grow a dozen big plants a year, and 12 big plants will keep a doper deep-fried and tie-dyed 24/7/365!
I hope employers and landlords have the right to hire and rent to non stoners.
Maybe require 10% ethanol in it....
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