According to Washington state officials, the first recreational marijuana dispensary licenses will be issued July 7.
But could high prices, low supply and a better value in the medical and black markets keep sales down? Some dispensary owners think so.
Michael Perkins, who owns a medical dispensary in Seattle, says he’ll be charging around $20 to $25 per-gram on the recreational side of things.
“I expect to see demand for the 502 (marijuana). I expect to run out of product,” Perkins tells Seattle PI. And, I expect the people coming to run over and try to get a (medical) card … so they can go to a medical store next door.”
Some retailers say they hope to not be among the first licensed so they can avoid the price wars and hassle that comes with long lines of tourists and locals looking to purchase legal weed for the first time.
“It’s gong to be kind of a blood bath,” one unnamed retailer said. “You have to compete against the medical and black market with super high prices and limited supply.”
Washington prices will likely be high in part due to a 25 percent excise tax at each level of cannabis production, including sales. State officials initially placed the retail value of cannabis at $12 per-gram.