What are the costs of cannabis in a few legalized consumption countries (recreational & medicinal) around the globe ?
Cannabis, which is often known as pot or weed, is a psychoactive drug that is made from the marijuana plant. Despite the fact that it is still not legal in many countries, more and more countries are allowing the use of cannabis for medical and/or recreational purposes. Therefore, the marijuana industry, which is legal, is expanding at a steady pace worldwide.
One of the most interesting aspects of the global cannabis sector is the huge diversity of pricing. Many different things have to be considered to get the total cost of pot in any country such as the following:
Current Legal Standings and Governing Laws
- Supply and demand
- Production costs
- Taxes and fees
- Exchange rates
Thus, to showcase the aforementioned deviations, we can examine the prices of cannabis in some of the bigger global markets.
United States
In the United States, the laws on marijuana are different from state to state. By 2023, the medical use of cannabis has been legalized in 37 states and Washington D.C., whereas the recreational use of cannabis for adults has also been legalized in 21 states and D.C.
Prices Exhibit Substantial Discrepancies Across States
In California, the usual charge for one gram of official recreational marijuana fluctuates between $10 and $15. The prices are determined by the state’s large population, established marijuana culture, and developed market.
Colorado, on average, the price ranges from $6 to $12 per gram. Colorado was one of the first states to legalize marijuana for recreational use and is the oldest market, so as a result, the competition has increased and the market has now become stable.
In Massachusetts, the cost of marijuana could be very high, often lying within the range of $15 to $20 per gram. The state gave a go-ahead in 2016 for the use of weed recreationally, and the market is currently almost reaching its peak.
In real cannabis markets, the prices exhibit a rise depending on the time till the prices have reached the critical point of the supply-demand efficiency.
Canada
In 2018, the Canadian Parliament passed a law allowing the use of recreational cannabis countrywide. The cannabis products are sold by the provinces and territories, and the government regulates the price.
In Canada, the average cost of 1 gram of marijuana legally sold costs around $10 CAD, but is equal to about $7.50 USD. This increased price is mainly due to very stringent government regulations and heavy taxes levied against the cannabis industry.
In the more distant areas, the pertinent cost is likely to be higher than in big cities. To illustrate, an average gram of weed in Toronto costs about $8 CAD, while in Yellowknife, a small town in the Canadian north, prices can go as high as $15 CAD per gram.
The Canadian authorities have been striving to decrease costs and diminish the illicit market through enhancing supply and fostering competition within the authorized market.
Europe
The regulations regarding cannabis in Europe contrast with full prohibition to a license to use it just for medical purposes as well as full decriminalization that results in different pricing.
In the Netherlands, where the personal use of cannabis is decriminalized, individuals can expect to pay around €10-15 (equivalent to $11-16 USD) for a gram. Amsterdam’s renowned “coffee shops” provide various kinds of cannabis within the range of this price.
In Germany medical marijuana can be bought for €10-25 (about $11-27 USD) per gram. But the market is evolving and due to the entry of new producers, the supply of medical cannabis is foreseen to go up and prices down.
In Spain, the use of cannabis for personal purposes is not considered a criminal offense, and entities known as “cannabis social clubs” have the legal right to cultivate and supply cannabis to their members. The cost of cannabis in these clubs typically falls between €5 and €10 per gram.
In Italy, although cannabis is prohibited, there exists a legal provision that permits the retail of cannabis containing less than 0.5% THC. Specialized stores offer these products known as “cannabis light” at prices ranging between €8- €15 per gram.
Australia
Legalization of medicinal cannabis at the Australian medical market in 2016 as Recreational use of Marijuana remains against the law.
The standard price for a gram of medical marijuana is AU$15-25 (about $10-17 USD) per gram, the high price is due primarily to the small number of patients and the lack of access to it.
The Australian authorities are involved in increasing medical cannabis access by allowing a greater variety of kinds and simplifying the process of patient approval.
South America
Diverse Regulations on Marijuana in South America
In Uruguay, where cannabis is legal for recreational purposes, the average cost per gram ranges from $1 to $2 USD. The country’s regulated market has successfully competed with the illicit market by keeping production expenses low and emphasizing extensive cultivation practices.
In Colombia, medicinal cannabis usually costs $2-5 USD per gram. The country’s comprehensive outdoor cultivation conditions have allowed its production costs to rival international competitors and thus be a major participant in the global medical cannabis export market.
In Argentina, cannabis is still illegal; however, the government has passed a law that allows people with possession for personal use to avoid criminal charges. It is of note that the prices of cannabis in the black market tend to vary between $1 to $3 per gram.
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