Out of 120 cities across the globe, it was New York city that was found to be the city that had the highest cannabis consumption rate.
According to the 2018 Cannabis Price Index, which was released by automatic cultivator device company Seedo, New York was found to have the highest consumption rate of the 120 cities.
The price index revealed the cost of marijuana in 120 cities worldwide as well as indicated the amount of tax revenue cities could gain through legalization.
The city was also found to have the highest potential tax revenue gains if the drug were to be taxed at the average marijuana rate in the U.S.
While New York City received that title, Washington, D.C. was found to have the most expensive cannabis in the U.S., at $18.08 per gram.
Seattle according to the index has the lowest price at $7.58 per gram.
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“This study has revealed some incredible insights into the kind of tax revenue that legalizing weed could generate,” remarked Uri Zeevi, chief marketing officer at Seedo.
“Take New York City for instance, which has the highest consumption level in the study at 77.44 metric tons of cannabis per year. If they taxed marijuana at the average U.S. cannabis tax level, the city could make $156.4 million in potential tax revenue per year. This is equivalent to providing nearly 3 months’ worth of free school meals to every single public school kid in New York City.”
“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,” said Zeevi. “By removing the criminal element from marijuana, governments will then (be) able to more safely regulate production, take away power from underground gangs, and as we’ve shown in this study, generate huge tax revenues.”
