Washington Legal Pot Prices Fall To Under $10 In July

#HB 2136 allows local jurisdictions to share marijuana tax revenues to encourage more cities and counties to allow marijuana businesses.

WASHINGTON: The price of legal marijuana at Washington’s legal recreational pot shops has fallen to an historic low of under $10 per gram of flower. Industry insiders place the cause squarely on the state’s newly rejiggered marijuana laws. Consumers and retailers are happy with the new low price points; while many producer/processors are struggling to differentiate.

“The impact of HB 2136 was dramatic on the price of marijuana in the WA retail shops,” said Brian Yauger, CEO of Front Runner, formerly TetraTrak, a leading provider of business intelligence for the legal cannabis industry.  “The average cost of a gram of flower dropped almost 25% a gram to under $10.  That now puts i502 recreational prices on par with medical.”

HB2136, signed into law on June 30th by Washington State Governor Jay Inslee, consolidates cannabis excise tax, and allows local jurisdictions to share marijuana tax revenues to encourage more cities and counties to allow for legal pot shops.  It went into effect on July 1st, and the result was an immediate drop in retail sales prices. 

In response, Front Runner and Marijuana Business Association have teamed up to present the 2015 Washington Marijuana Retailer Seminar on October 5th at the Red Lion Hotel in Bellevue, WA.    The MJBA Professional Seminar will feature presentations from Yauger and TetraTrak CDO Joe Armes, who will provide a comprehensive look at the WSLCB wholesale and retail sales data to date, with an eye toward giving 502 retailers actionable business intelligence.

“I want every retailer who attends this seminar to feel that they’ve gotten the value of the ticket price back in the first 15 minutes of the event,” Yauger told MJNN.

Leading Retailer Uncle Ike’s founder Ian Eisenberg will be a featured speaker and panelist. He’ll be joined by an impressive lineup of top retailers including Evergreen Market, Satori and The Joint.  Top cannabis brands Zoots, Mirth Provisions, Evergreen Herbal, Buddy Boy Farm and Monkey Grass Farms will participate as featured panelists.  Event sponsors include Green Bits, PayQwick, Visual Options, CannaVentures and Sky High Gardens.   

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