Why it matters:
– The study found that New York City consumes the most cannabis out of any city in the world, highlighting the high demand for cannabis in the city.
What they are saying:
– The study, conducted by health information resource CFAH, collected data on cannabis prices from 140 cities worldwide to create the “2023 Cannabis Global Price Index.”
– New York City consumes 62.3 metric tons (approximately 137,000 pounds) of cannabis per year, followed by Sydney, Australia and Los Angeles.
– Tokyo has the most expensive cannabis, priced at $33.8 per gram, while Montreal, Canada has the least expensive cannabis at $5.90 per gram.
– The study predicts that the price of cannabis per gram in the US could fall to an average of $5.61 by 2030.
The big picture:
– The study reveals the global consumption patterns and pricing of cannabis, providing insights into the demand and market for cannabis worldwide.
– It challenges the assumption that legality determines availability and prices, as both legal and illegal cities were represented in the most and least expensive categories.
What to watch:
– Watch for the continued growth of the cannabis market and the potential impact of federal legalization on pricing and consumption patterns.
– Pay attention to how New York City’s cannabis consumption may change as the recreational market develops.
My take:
– This study emphasizes the significant demand for cannabis in New York City and highlights the potential for the cannabis industry to continue expanding.
– The projected drop in cannabis prices in the US suggests that the market will become more competitive and accessible to consumers.
