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The420Guy
Guest
PERTH, Australia (Reuters) - Better, more efficient
growing techniques are slashing marijuana prices in
Australia and pushing up consumption.
Prices of the weed have fallen in real terms by almost
40 per cent over the past 10 years, according to a
survey by the Economic Research Centre at the
University of Western Australia.
Marijuana remains illegal here, but smoking or
possessing small amounts has been decriminalized in
most Australian states.
"Even though marijuana is an illegal substance in
Australia it seems that the application of modern
production techniques, particularly hydroponic
techniques, has led to a substantial increase in
supply," said Professor Ken Clements who led the
research.
"This, in turn, has led to the sharp fall in price we
have recorded," he told Reuters on Tuesday.
According to the research, an ounce of marijuana leaf
in Sydney in 1990 would have cost A$438 (US$244). In
1999, the date of the research, the price had fallen
to A$275.
Perth had the cheapest marijuana in 1999 with an ounce
costing A$250, but was one of the few places to record
an increase. An ounce costs A$210 in 1990.
The falling price of marijuana sparked a 15 per cent
rise in consumption, the survey found.
"Australians are widely recognized as big beer
drinkers but what we've found is that they are also
among the biggest marijuana consumers in the world,"
Clements said.
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Subject: Australia: Marijuana Prices Fall, Consumption Increases
Marijuana Prices Fall, Consumption Rises
Tue Jun 18, 9:27 AM ET
growing techniques are slashing marijuana prices in
Australia and pushing up consumption.
Prices of the weed have fallen in real terms by almost
40 per cent over the past 10 years, according to a
survey by the Economic Research Centre at the
University of Western Australia.
Marijuana remains illegal here, but smoking or
possessing small amounts has been decriminalized in
most Australian states.
"Even though marijuana is an illegal substance in
Australia it seems that the application of modern
production techniques, particularly hydroponic
techniques, has led to a substantial increase in
supply," said Professor Ken Clements who led the
research.
"This, in turn, has led to the sharp fall in price we
have recorded," he told Reuters on Tuesday.
According to the research, an ounce of marijuana leaf
in Sydney in 1990 would have cost A$438 (US$244). In
1999, the date of the research, the price had fallen
to A$275.
Perth had the cheapest marijuana in 1999 with an ounce
costing A$250, but was one of the few places to record
an increase. An ounce costs A$210 in 1990.
The falling price of marijuana sparked a 15 per cent
rise in consumption, the survey found.
"Australians are widely recognized as big beer
drinkers but what we've found is that they are also
among the biggest marijuana consumers in the world,"
Clements said.
---------------------
Subject: Australia: Marijuana Prices Fall, Consumption Increases
Marijuana Prices Fall, Consumption Rises
Tue Jun 18, 9:27 AM ET
