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Price of cannabis in NWT coming down

Marijuana stock photo. Pixabay photo.
Finance Minister George Hickes expressed confidence that cannabis retail shops in communities will reduce "black market" marijuana sales, but he couldn't provide a date when retailers will start operations in Nunavut. Pixabay photo

Pot prices have dropped by 10 per cent in the NWT, the Department of Finance said Tuesday in a news release.

The price decrease, which took effect on July 2, is part of an effort to eliminate illegal cannabis sales in the territory and applies to all cannabis products sold by the Northwest Territories Liquor and Cannabis Commission (NTLCC).

After almost two years of legal sales of cannabis, the commission has a better grasp of the operating costs involved in the distribution and sale of pot and it is confident it can lower prices while maintaining a secure retail program.

Legal cannabis can only be purchased in five NWT liquor stores in Yellowknife, Hay River, Fort Smith, Norman Wells and Fort Simpson and through the NTLCC’s online sales platform.

“Today’s announcement is one of many steps that need to be taken to (eliminate illegal sales). We will continue to assess the operations of the NTLCC to find more ways to curb the illegal sale of cannabis in the NWT in a socially responsible manner,” said Finance Minister Caroline Wawzonek.