Washington State Marijuana Prices Plummet

Recreational marijuana prices in Washington State have fallen by more than 50% in the last 18 months, helping the industry compete against the black market but also introducing new challenges for licensed cannabis businesses.

The reason for the price plunge? A deluge of new retailers and tax changes are forcing stores to cut prices in an effort to increase customer traffic and sales, the Longview Daily News reported.

When the recreational marijuana market launched in July 2014, the average…

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