Legalized cannabis could sell for as low as $1 a gram in Uruguay when the country legalizes the cultivation, sales and use of cannabis later this year as expected.
Uruguay's drug czar Julio Calzada announced the predicted low-prices for government cannabis stores earlier this week, dropping it by more than half from earlier predictions.
According to the Associated Press, Calzada also said legalized sales should start sometime in the second half of 2014. Cannabis will only be sold to adult Uruguayans and will not be available to tourists to purchase. Calzada says that the low prices probably won't pull much of a profit - but that is the plan. By devaluing cannabis, Calzada says it takes power away from drug cartels.
In addition to the government-run cannabis stores, Uruguayans would be allowed to grow up to six plants at home or as part of a cooperative with friends. Purchases from storefronts are limited to 40 grams per month.
As we told you back in August, the bill has already been approved by the Uruguayan congress and is expected to gain approval in the Senate later this year.