There’s some news on the legal marijuana front and it’s good for future consumers, but bad for black market operators. The government of Ontario is considering pricing legal pot at $10 per gram, which is in line with what many users pay on the street or for some strains in illegal dispensaries.
Finance Minister Charles Sousa stated that a price of $10 per gram was “certainly something that we’re giving consideration to,” in response to CBC questioning at the Legislature Wednesday. Sousa also estimated upwards of $100 million as a potential figure for gross tax revenue to be generated annually from legal pot sales.
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Reasonably priced legal marijuana would certainly spell trouble for the black market. Recent research reveals that the current average price for a gram of marijuana in Ontario is $8.64. Prices in dispensaries have ranged from $10 to upwards of $25 and beyond, depending on the strain.
“If the government proposes to sell pot below $10 a gram, then yes, they will eliminate the black market,” Mark Stupak, founder of SoCo Medical Cannabis Collective in Toronto told CBC Radio’s As It Happens last week.
Marijuana is expected to be legalized by July 1, 2018. The government of Ontario recently unveiled plans to sell the product over the web and in standalone storefronts operated by the LCBO.