Status of marijuana in 2016

THE MEDICINAL and psychoactive effects that we associate with marijuana are caused by unique chemical structures called cannabinoids found in the plant.

To date, there have been 86 cannabinoids identified in nature and others have been synthesised chemically. The major psychoactive ingredient in marijuana is commonly referred to as THC.

Other cannabinoids, in addition to THC, also have medicinal or psychoactive constituents. One of the major concerns with the use of matijuana is the possible effects it has on the developing brain of young people under the age of 25 years. This is a concern expressed by some Canadians which will be decriminalising marijuana in 2017.

On December 10, 2013, Uruguay became the first country in the world to completely legalise marijuana.

The law provides for the growth,sale, and price of the herb to be controlled by the government.

However, to date the system has not been fully implemented.

In Colorado the retail sale of marijuana was legalised on January 1, 2014; in Washington State the retail sale was legalised on July 8, 2014 ;in Washington DC it was legalised on February 26, 2015, and in Oregon on October 1, 2015. Marijuana is now legalised in nine states: Colorado, Washington, Oregon, Alaska, California, Maine, Massachusetts, Nevada and Washington DC.

Thirteen states have decriminalised marijuana: Connecticut, Delaware, Illinois, Maryland, Minnesota, Mississippi, Missouri, Nebraska, New York, North Carolina, Ohio, Rhode Island, and Vermont.

Thirty states have legalised medical marijuana: Alaska, Arizona, Arksansas, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Illinois,Louisian, Maryland, Maine, Massachusetts, Michigan, Minnesota, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, Vermont, Washington and Washington, DC. In the US, the price of marijuana varies with the quality, the THC content, and its classification as premium grade, mid-grade or low-grade.

The price also depends on the supply and demand for the product in various states. In January 2016 the average wholesale price in Denver was $1,800 a pound but by June 2016 it had declined to $750 a pound because of an over supply. It is not unusual for a premium grade to be sold for $2,200 to $2,500 a pound. In the dispensaries as the pot shops are called the average retail selling price is $15 to $20 for 1/8 ounce .Two joints sell for $14. The wholesale price of medical marijuana which attracts a sales tax of 2.9 percent has remained relatively stable at $1,600 to $1,800 a pound.

There are 110,000 to 115,000 medical marijuana cardholders in Colorado.

In 2015, the value of recreational and medical marijuana sold in the US was estimated at $5.4 billion an increase of $4.6 billion over sales for 2014. Sales for 2016 are estimated to be $6.7 billion. In Colorado sales for 2015 were valued at $996 million and the estimate for 2016 is $1.3 billion. The first $40 million in tax revenue collected is allocated to school projects. In Washington State the first two years of marijuana sales, from July 2014 to July 2016, exceeded $1 billion which brought in $250 million in excise taxes for the state.

I must mention that despite these high volume of sales in legal marijuana, because of the lower price, there continues to be an illegal or black market trade. A study done in the US nearly ten years ago, before marijuana legalisation was even on the table, found that considering the average annual upkeep per prisoner was $31,286, decriminalising illicit drugs by taking away criminal prosecution for simple possession and use would significantly reduce the prison population and save taxpayers around $20 billion a year. I am of the opinion that our prison population will be significantly reduced should the possession of small quantities of marijuana be decriminalised. How many young persons in Trinidad and Tobago have had their future destroyed for being in possession of a small quantity of marijuana, while the “big fish” remain free?