Continue Reading Below Advertisement As Forbesreported Last Week , Wholesale Marijuana Prices Are Plunging In Legal-marijuana Markets.

The dollar figures behind pot have also been enormous. ArcView estimates that legal marijuana sales hit $6.9 billion in 2016 and that they could continue to grow by approximately 30% through the end of the decade. With an estimated 87% of marijuana sales ($46 billion) still tied to the black market, there’s an ample opportunity for legal sales to continue surging higher. More From Fool.com He Made 21,078% Buying Amazon. Heres His New Pick Marijuana prices are plunging for a potentially scary reason But beneath this rapidly growing facade is an industry that could soon find itself in deep trouble if certain market dynamics continue to deteriorate. Continue Reading Below ADVERTISEMENT As Forbesreported last week , wholesale marijuana prices are plunging in legal-marijuana markets. According to CannaSaver.com CEO Brian Shapiro, wholesale prices plummeted 60% in 2016, from $2,500 per pound to just $1,000. In Washington state, the decline in marijuana prices was even more pronounced, albeit over a longer timeframe, according to BDS Analytics. In August 2014, medical marijuana just a month after recreational marijuana became available in Washington’s pot dispensaries, the average selling price per gram was nearly $25, though the amount of marijuana being produced was minimal. A year later, the price had fallen to roughly $10 a gram, as more than 3 million grams were produced.

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