Uruguay sets price for legal marijuana at less than $1 per gram


Uruguay has set the price for pot at less than $1 a gram as it lays out rules for the government-regulated sale of marijuana in a daring, closely watched social experiment.

The small South American country is following up on its groundbreaking decision in December to legalize the production and sale of marijuana under government control, an international first amid growing sentiment that the war on drugs has failed.

On Friday, the government announced rules for the new market, setting limits on the amount individuals can buy, the potency of the drug and the price.

It also put in place a process for issuing licenses to grow and distribute marijuana.

A decree is due to be signed Monday and will go into effect the following day.

Legal marijuana will not actually be available until the end of the year, however, when pharmacies begin selling it under government supervision.

Under the law, buyers will be able to grow their own or purchase it through consumers’ clubs. They must be 18 or older, residents of Uruguay, and must register with authorities.