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Low supply, pricing disputes leave pot shops empty

Friday, July 25, 2014 - 01:31

Just two weeks after legalized sales of recreational marijuana began in Washington state, many shops are temporarily closing their doors because of low supply and pricing wars with growers. Mana Rabiee reports.

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Pot enthusiasts in Washington state hoping to get high...are dealing with a new low. Just two weeks after legal recreational marijuana sales began, pot shops are running out of product. Customer after customer, many from out of state... NATS MAN "I actually came from Idaho." ...are finding THIS... ...closed doors at many pot shops. Shop owners are out of supply and some of them are fighting with growers over pricing. NATS CUSTOMER "Price gouging? That's ridiculous!" It's simple supply and demand. There just aren't enough growers yet approved by the state to meet the demand. And some harvests are still weeks way from being ready. Pot retailers are angry that growers are charging sometimes $6,000 for a pound of marijuana...when it should only cost $2,000. SOUNDBITE: RAMSEY HAMIDE, MANAGER OF MAIN STREET MARIJUANA, SAYING: "I'm not gonna pay these prices anymore, so if I'm saying right off the bat 'I'm not paying $14 or $15 a gram, I'm only willing to pay $10 a gram or $11 a gram..." He's still negotiating with the growers. But at those prices, customers are paying about $25 a gram. A lot more than it costs on the street. SOUNDBITE: RAMSEY HAMIDE, MANAGER OF MAIN STREET MARIJUANA, SAYING: "We get customers that we can supply with product but then we also kind of get the black eye on why are we charging such a high price and it's not us that's influencing the price, our margins are razor slim." Local media report that would be customers looking for the pot shops are being approached by illegal sellers... ...dealers who know that the buyer is likely going to find...closed doors for now.

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Low supply, pricing disputes leave pot shops empty

Friday, July 25, 2014 - 01:31