NBC Los Angeles is reporting that 6700 pounds of marijuana have been seized from the back of a U-haul van that allegedly ran a red light on July 9 in Bakersfield. The story says
The street value of the seized marijuana is estimated to be $76 million based on a sale price of $25 a gram, [Bakersfield Police Sgt. Joe Grubbs] told NBC. Low-grade marijuana typically sells for $5 to $10, but higher grade marijuana can go for as much as $40 a gram, he said.
“It’s the largest in recent memory that anybody around here remembers,” Grubbs said.
Most bulk cannabis goes for around $1000 per pound now in this area. The Humboldt County Sheriff’s Office began using $1000 per pound back in 2013 when estimating the amount of money a certain amount of marijuana might be worth. So whipping out the old calculator we determined that 6700 pounds is worth $6.7 M in Humboldt money—still a substantial amount but nothing like the $76 Million Bakersfield law enforcement claimed it was worth.
What’s a 70 million dollars difference between north and south though?
Hmmm, we bet Humboldt growers would like one of these Bakersfield connections that multiples the monetary value of marijuana over tenfold.
P.S. Check out the photos of the haul here. Anyone ever seen pot packaged that way?