Wholesale cannabis prices could hit as low as $30 an ounce in some parts of the country by Christmas as another record crop of outdoor cannabis floods markets and sinks prices.
For example, the legal recreational market in Oregon continues to drown in a multi-year surplus. Oregon produced 10 times the cannabis it needs each year, and approximately 825,000 pounds of unsold dried wholesale flower now sits in the state’s tracking system, says Jonathan Rubin, CEO of Cannabis Benchmarks, which tracks wholesale prices.
“Prices are the lowest we have tracked and now we have the fall harvest coming in,” Rubin said. “Over the coming months, we anticipate for prices to decline with outdoor, sun-grown flowers.”