According to new data released today by the Oregon Liquor and Cannabis Commission, the cost per gram of both dried marijuana flower and marijuana concentrates is lower than it’s ever been.
As of the end of February, the average price per gram of dried marijuana in Oregon is $3.43, a new all-time low and a $0.07 decrease from the average in January. This marks a 67% decrease from the $10.50 average in 2016.
As for marijuana concentrates, prices also reached a record low in February, with the current price standing at $15.38. This marks a 65% decrease from the highest average price of $45 in March 2017.
Oregon voters approved recreational marijuana legalization in 2014 with Ballot Measure 91, paving the way for licensed retail sales the following year. As of July 1, 2015, those 21 and older can legally possess up to two ounces of marijuana in public and up to eight ounces at home. They’re also allowed to have up to 16 ounces of cannabinoid products in solid form, 72 ounces in liquid form, and one ounce of cannabinoid extracts purchased from a licensed retailer. Home cultivation is permitted, with a limit of four plants per household.
Recreational marijuana sales in Oregon are subject to a 17% state tax, with local jurisdictions able to impose an additional 3%. The revenue is distributed as follows: 40% goes to the State School Fund, 20% supports mental health and addiction treatment, 15% funds the State Police, 20% is allocated to local law enforcement, and 5% goes to the Oregon Health Authority for drug treatment and prevention efforts.
