The most expensive weed in the world, according to the study, is in Tokyo, where a gram sells for approximately $32.66.
Seedo, a company that manufactures devices geared toward growing weed, recently published the 2018 Cannabis Price Index, a ranking developed by using information from the UN’s Office on Drugs and Crime (UNODC). According to the company, its objective was “to illustrate the constant need for legislative reform regarding cannabis use around the world” and “to determine if there are some lessons that we should learn from cities in [the] vanguard of marijuana legalization.”
Uri Zeevi, chief marketing officer of Seedo, said that all of this illustrates how, “[by eliminating] the criminal component of marijuana, governments could regulate production in a more secure manner, robbing criminal gangs of their power and—as we show in this study—generating enormous tax revenues for the development of countries.”
The study includes 120 cities from around the world, among them some where the use of marijuana is still penalized and others where the drug is at least partially legal. In addition, Seedo developed a framework for calculating the potential tax revenues legalization might bring to cities (we didn't include it in our map below, but you can find the complete table here), comparing the taxes on marijuana in cities where it’s legal with the taxes imposed on cigarettes.
To determine the price per gram, the study's authors conducted surveys at the local level, adjusting their findings with statistics obtained from the 2017 World Drug Report by the UNODC. These averages may be outdated—the price of weed in any given city on any given day obviously depends on the quality and whims of a dealer, among other things. For example, in Bogotá, Colombia, we know from experience that you can buy a gram of weed for 2,000 Colombian pesos (The travel itinerary of a dedicated pot smoker is never complete if it doesn’t include research on the cost of weed in the country they're slated to visit. Not only is it wise to avoid being ripped off, but it's also important to know how much you'll have to save up to budget accordingly. And even though lingering global drug prohibition means it's still difficult to collect conclusive data—especially given the vast number of variables that factor into the street sale of weed around the globe—there is data out there that can help..70 USD), despite the fact that the study set the average street value at $2.20 USD (approximately 6,000 Colombian pesos).
The average number of metric tons of weed consumed annually in each city was calculated using an equation that considers the total population, prevalence of consumption (the percentage of the population that consumes weed during the course of a year, according to the UNODC’s report), and estimated total (annual) consumption in grams.
“At Seedo, we’ve built technology that helps regular smokers to grow cannabis plants of the utmost quality from the comfort of their own home, avoiding pesticides and taking ownership of their personal supply.” says Uri Zeevi, CMO at Seedo. “We believe that by understanding the cost of weed around the world, we can help to educate smokers about the potential financial benefits of hydroponic growing technology.”
“That illegal cannabis use is so high in countries that still carry the death penalty, such as Pakistan and Egypt, those in power ought to see how desperately new legislation is needed.” comments Uri Zeevi, CMO at Seedo. “By removing the criminal element from marijuana, governments will then able to more safely regulate production, take away power from underground gangs, and as we’ve shown in this study, generate huge tax revenues.”
Berlin, Germany, 20/04/2018 – ABCD, a data-driven media campaign outlet, has released new data which reveals the number of marijuana head and growshops in 120 cities around the world. This research, which builds on the 2018 Cannabis Price Index released earlier this year, reveals which locations around the world are ready to embrace cannabis legalisation. The aim of the study is to illustrate the continuous need for legislative reform on cannabis use around the world, and to determine if there are any lessons to be learned from those cities at the forefront of marijuana legalization. By including extra data on the number of head and growshops in each city, this new research can be utilized to indicate which cities are prepared for an imminent cannabis reform, while also highlighting which cities are in opposition of marijuana legalisation.
The table below shows the top 10 cities who could generate the most potential tax by legalising cannabis, if taxed at the average US marijuana tax rate:
ABCD decided to conduct the extra research in order to to further the discussion around the medical and recreational use of cannabis, and the potential industry and business opportunities that would follow legalisation. By identifying the number of headshops as well as growshops, this study serves as an indicator to a city’s existing cannabis infrastructure and willingness to accept such reform on a larger scale. As an indicating factor, the more head shops and grow shops a city has, the more positive their state’s and general public’s attitude towards the cannabis-related industry is likely to be.
The initial study began by selecting 120 cities across the world, including locations where cannabis is currently legal, illegal and partially legal, and where marijuana consumption data is available. Then, they looked into the price of weed per gram in each city. To calculate how much potential tax a city could make by legalising weed, ABCD investigated how much tax is paid on the most popular brand of cigarettes, as this offers the closest comparison. They then looked at what percentage marijuana is currently taxed in cities where it’s already legalised in the US.
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“The way that the legalised cannabis industry is rapidly evolving alongside new technologies shows how innovative emerging tech companies are today.” says Uri Zeevi, CMO at Seedo. “Take the way that cannabis and cryptocurrency have joined forces, with examples such as HempCoin or nezly, which manage processes and payments in the new marijuana industry. When you consider too the potential that these new technologies have to disrupt the cannabis industry, there’s no denying that these are very exciting times.”