Plummeting Marijuana Prices Create A Panic In Calif.

[Stretch]

Plummeting Marijuana Prices Create A Panic In Calif.


Thursday, 27 May 2010 08:18

'For decades, illegal marijuana cultivation has been an economic lifeblood for three counties in northern California known as the Emerald Triangle. The war on drugs and frequent raids by federal drug agents have helped support the local economy — keeping prices for street sales of pot high and keeping profits rich.
But high times are changing. Legal pot, under the guise of the California's medical marijuana laws, has spurred a rush of new competition. As a result, the wholesale price of pot grown in these areas is plunging.'
Read more: Plummeting Marijuana Prices Create A Panic In Calif

 

[petros]

Legalization is on the ballot for Nov. If this is troubling the CA economy it will hit Canada's closet industry hard too.

 

[bill barilko]

While prices in California might drop what happens in places like Georgia or Tennessee?

My guess is that California growers will have to look for new markets/might suffer a bit of reduced income but panic?

 

[petros]

Pineapple Kush in a can is popular north america wide.

Pineapple Kush in a can is popular north america wide.

YouTube - Can of wEEd

 

[lone wolf]

Pot profits dropping in California will make it less attractive to organized crime. I hope other jurisdictions are watching....

 

[darkbeaver]

Marijuana is the illegal relative of cannabis. Cannabis is respectable. Pot heads will rule the world. An unprecedented period of peace and prosperity will ensue. I'm certain of it. Roll them tight find a light, rejoice. This is true green revolution.

 

[Mowich]

A friend of mine was telling me today that there is a glut of cannabis on the BC market right now and prices are diving. This in spite of grow-op busts going on all around our area. Quesnel, Lac La Hache, Willy's Puddle, etc. etc. If there are that many busts just around here, I have to wonder about other areas of the province, which begs the question of where all the pot now on the market, is coming from and just how many other ops are there.

Could be a good time to stock up. ;-);-)

 

[lone wolf]

Around here, we have people from the GTA buying houses and turning them into grow ops. When they eventually get raided, the million dollar bust earns local cops big feathers and puffy chests and the house gets seized for proceeds. Who wants a mouldy house?