Approximately three years after Oregon lawmakers signed a recreational cannabis law, the state is now experiencing a massive glut in its marijuana supply, collapsing prices and putting dozens of the industry’s licensed growers and retailers on borderline bankruptcy.
For the second year in a row, cannabis farmers harvested more than 2.5 million pounds of pot in October. Of that, the so-called wet harvest, 1.3 million in usable marijuana was logged into the Oregon Liquor Control Commission’s cannabis tracking system as of December.
The state of about 4 million people harvested a half pound of marijuana per every resident, which raises concern that there are too many growers. According to government data, there are 1,107 licensed active producers and another 900 producers seeking licenses from the Oregon Liquor Control Commission (OLCC).
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11 comments:
Like everything else government gets involved and F'd it up
ðŸ¤
Lol.
Far out man!
Greed
Just legalize recreational use at the federal level and this would not be a problem.
Buy stock in Doritos.
The farther government stays away from this issue, the better.
but here in MD medical pot is double the black market price. i agree with 5:11.
Profits up in smoke?
I sure wish they could send some of that to Delaware's Medical Marijuana Program. After 5-6 years this program is still so screwed up that you can only buy an eighth of an ounce for $50.00. Which means that an ounce costs $400.00. How is that supposed to help anyone? Who can afford to buy it? I am considering moving back to Maryland where at least they have 20-30 dispensaries and the prices will reflect that. Every year they tell us how more people are signing up and they just can't keep up with demand and now not only are the prices ridiculous but you can only get a choice of 2-3 strains. Get with the program, Delaware.
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