drypowder
Les Deplorables
Oregon Grew More Cannabis Than Customers Can Smoke. Now Shops and Farmers Are Left With Mountains of Unwanted Bud.
http://www.wweek.com/news/2018/04/1...mers-are-left-with-mountains-of-unwanted-bud/
It turns out Oregonians are good at growing cannabis—too good.
In February, state officials announced that 1.1 million pounds of cannabis flower were logged in the state's database.
If a million pounds sounds like a lot of pot, that's because it is: Last year, Oregonians smoked, vaped or otherwise consumed just under 340,000 pounds of legal bud.
That means Oregon farmers have grown three times what their clientele can smoke in a year.
Yet state documents show the number of Oregon weed farmers is poised to double this summer—without much regard to whether there's demand to fill.
The result? Prices are dropping to unprecedented lows in auction houses and on dispensary counters across the state.
Wholesale sun-grown weed fell from $1,500 a pound last summer to as low as $700 by mid-October. On store shelves, that means the price of sun-grown flower has been sliced in half to those four-buck grams.
Fortunately for Mexico's marijuana dealers, Oregon growers cannot legally sell outside their state. But this shows how recreational marijuana laws, if they don't artificially constrain supply (e.g., via very limited growing licenses), will push the cartels out of this business.
http://www.wweek.com/news/2018/04/1...mers-are-left-with-mountains-of-unwanted-bud/
It turns out Oregonians are good at growing cannabis—too good.
In February, state officials announced that 1.1 million pounds of cannabis flower were logged in the state's database.
If a million pounds sounds like a lot of pot, that's because it is: Last year, Oregonians smoked, vaped or otherwise consumed just under 340,000 pounds of legal bud.
That means Oregon farmers have grown three times what their clientele can smoke in a year.
Yet state documents show the number of Oregon weed farmers is poised to double this summer—without much regard to whether there's demand to fill.
The result? Prices are dropping to unprecedented lows in auction houses and on dispensary counters across the state.
Wholesale sun-grown weed fell from $1,500 a pound last summer to as low as $700 by mid-October. On store shelves, that means the price of sun-grown flower has been sliced in half to those four-buck grams.
Fortunately for Mexico's marijuana dealers, Oregon growers cannot legally sell outside their state. But this shows how recreational marijuana laws, if they don't artificially constrain supply (e.g., via very limited growing licenses), will push the cartels out of this business.