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Cannabis Haul Valued Incorrectly
A CANNABIS haul valued by police at about $8 million would really have been worth only about $270,000, cannabis law reform campaigner Michael Balderstone has said.
Police last week seized more than 4800 cannabis plants ranging up to two metres in height, along with 25kg of dried cannabis head, in raids around the region.
Based on a valuation of $2000 per plant, police said the drugs had a potential street value of about $8 million.
However, Mr Balderstone said the true figure would have been lower. He said only one-in-10 plants in a cannabis crop usually survived to harvest.
Those that did usually yielded about an ounce (28 grams) of useable marijuana, which he said was worth about $200.
That put the value of the 4800 plants at about $96,000. Combined with the 25kg of dried cannabis head, that meant a value of $272,400.
Drug Squad commander Superintendent Nick Bingham agreed the police method of testing values was imprecise, but added it was based on the ‘potential’ value of a crop.
There is always going to be conjecture on what a plant is valued at,” he said.