Sep 11 (Lagos) - According to data from the 2018 ABCD Cannabis Price Index, New York City consumed 77 metric tons of Cannabis which was the highest in the world in 2018.
USA had 3 cities in the top ten list (NYC, Chicago and Los Angeles) while India had two (New Delhi and Mumbai). The only African city to be mentioned in the top 10 is Cairo in Egypt which consumed 32.6 MT of cannabis in 2018.
New York, Los Angeles and Toronto are the only three cities in the top 10 list where it is legal to buy and consumer cannabis. Majority of the world still continues to treat cannabis as a dangerous drug. The reforms are taking longer than expected across the globe.
Cannabis is cheapest at $1.34 per gram in Quito, Ecuador. It was most expensive in Tokyo, Japan where one had to pay $32.66 per gram.
The legalization of Cannabis opens huge tax revenues for governments across the world. The wave of legalization is growing in the USA which is the biggest market in the world. Most US states have legalized cannabis and the only remaining resistance is on the federal level. Even in Nigeria, there could be huge tax benefits for the economy if it is legalized as more than 25% of total population of Nigeria currently consumes cannabis.
reporting for easykobo.com on Wednesday, Sep 11 2019 from Lagos, Nigeria