The 2018 Cannabis Price Index has released some interesting information about global cannabis prices.

A total of 120 cities were included in the study, which highlighted the cost of cannabis in each city and the potential tax revenue that could be accrued from cannabis legalization.

Cannabis prices differ greatly from country to country

The 2018 Cannabis Price Index uncovered a great deal of variety in terms of cannabis prices around the world.

Tokyo, Japan was the most expensive, at $32.66 per gram. Seoul, South Korea wasn’t far behind, at $32.44 per gram. Consumers can buy a gram of cannabis for $29.65 in Kyoto, Japan, whereas the residents of Hong Kong, China, can get their hands on a gram of weed for $27.58.

Bangkok, Thailand wasn’t as cheap as most people might have expected, with a one-gram bag of cannabis selling for $24.81.

Consuming cannabis in Tallinn, Estonia might leave you a little bit out of pocket, too. In this country, cannabis sells for $20.98 per gram, closely followed by Shanghai, China at $20.82 per gram and Beijing at $20.52 per gram.

So, what about the cheapest places to buy cannabis?

Well, Ecuador, Quito, turned out to be the cheapest, with weed selling for $1.34 per gram. Expect to pay $2.20 per gram in Bogota, Colombia or part ways with just two extra cents in Asunción, Paraguay.

Despite being illegal in Indonesia, cannabis sells for $3.79 a gram in the city of Jakarta. Prices in Panama City, Panama were calculated at $3.85 per gram. Johannesburg, South Africa ($4.01), Montevideo, Uruguay ($4.15) and Astana, Kazakhstan ($4.22) also came in as some of the cheapest places in the world to buy cannabis.

Legalizing cannabis could generate major tax revenue

According to the CMO at Seedo, Uri Zeevi, the results of the 2018 Cannabis Price Index reveal fascinating insights into the level of tax revenue that could be generated by legalizing cannabis.

“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 US cannabis tax level, the city could make $156.4 million in potential tax revenue per year,” Zeevi said.

“This is equivalent to providing nearly 3 months worth of free school meals to every single public school kid in New York City,” he added.

Seedo software was used to calculate cannabis prices and tax revenue

Automatic cultivator device Seedo was used to publish the findings of the 2018 Cannabis Price Index. Cities, where cannabis is illegal, partially legal and completely legal, were analyzed for the study, as well as some cities where cannabis consumption data was available.

Researchers analyzed the cost of cannabis per gram in each of the 120 cities. Next, they calculated potential tax revenue from cannabis legalization. To accomplish this, they searched for the “closest comparison” – popular brands of cigarettes.

Once they had gathered this information, they reviewed the percentage at which cannabis is currently being taxed in weed-friendly US states.