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July 26 (Bloomberg) -- Marijuana prices are declining in British Columbia, Canada's westernmost province, as the U.S. tightens border controls and more growers plant the crop, Canadian Press reported.
The price of pot has declined to C$1,500 ($1,127) a pound, from the C$2,200 to C$2,600 that it sold for two years ago, Royal Canadian Mounted Police Corporal Ray Patelle told the news agency.
Extra security on the U.S. border since the Sept. 11, 2001, terrorist attacks curtailed marijuana smugglers, creating a glut in the western Canadian province, Canadian Press said. U.S. border patrols have tripled in some places, resulting in a 23 percent rise in seizures, the news agency said.
The crackdown may cut the British Columbia government's revenue. Assuming that traffickers use profits to buy goods in the province, the government may be losing millions of dollars a year in sales tax, CP said.
Bloomberg
Joe Schneider
jschneider5@bloomberg.net
July 26
©2004 Bloomberg L.P. All rights reserved.
Bloomberg - Are you a robot?
The price of pot has declined to C$1,500 ($1,127) a pound, from the C$2,200 to C$2,600 that it sold for two years ago, Royal Canadian Mounted Police Corporal Ray Patelle told the news agency.
Extra security on the U.S. border since the Sept. 11, 2001, terrorist attacks curtailed marijuana smugglers, creating a glut in the western Canadian province, Canadian Press said. U.S. border patrols have tripled in some places, resulting in a 23 percent rise in seizures, the news agency said.
The crackdown may cut the British Columbia government's revenue. Assuming that traffickers use profits to buy goods in the province, the government may be losing millions of dollars a year in sales tax, CP said.
Bloomberg
Joe Schneider
jschneider5@bloomberg.net
July 26
©2004 Bloomberg L.P. All rights reserved.
Bloomberg - Are you a robot?
