A leader in Nevada’s marijuana industry says he expects marijuana prices in Nevada to drop to the level of prices in other states like Colorado and Oregon.
The Las Vegas Sun reports that Acres Cannabis CEO John Mueller made the comment at the Las Vegas Medical Marijuana Association’s monthly luncheon Thursday.
Mueller said price reductions could come as early as next year when up to 42 additional state dispensary licenses are issued for new pot stores to open across the state.
Prices in Nevada are nearly twice those in cities like Portland and Denver.
The comparatively high pot prices are due to costs paid by dispensaries to state-mandated testing labs, and a tax on the plant as high as 38 percent in some cities by the time the pot reaches buyers.
But as the industry expands, Mueller said a larger supply will force shops to compete for customers, leading to lower prices.
Nevada has less than one-eighth the number of open dispensaries in both Oregon and Colorado, and costly lab testing standards for those states are not as stringent as they are here.