High prices shock high customers: Marijuana retail struggles to match prices to black market

JUNEAU, Alaska (KINY) - Consumers of legalized marijuana have experienced sticker shock compared to the price of the drug on the underground market.

The Alaska Dispatch reports that an eighth of an ounce sells at licensed retailers for $60 to $90, compared to illegal sales of $40 for the same amount.

The reasons given are a limited supply; only 45 growers have been licensed statewide, and the crop is not enough to keep up with demand. The quality of the product is also higher, since it is required by law to be tested by a licensed laboratory. The price of legalized weed also has state and local taxes tacked on.

Prices may dip by this fall, or by this time next year, as the supply chain ramps up. The Marijuana Control Board will be holding an additional meeting on May 15th, at the request of growers, to consider more licenses in time to begin a new crop.

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