Posted on 04/20/2018 1:27:43 PM PDT by Responsibility2nd
Trey Willison, a cannabis farmer in Eugene, first started worrying last May about there being too much marijuana in Oregon. He had sold all his “clone” plants to other growers, who were using them to cultivate yet more marijuana.
“You start doing the math on that and it just didn’t make sense how people could be growing that many plants,” Willison said.
Fast-forward nearly a year and Oregon does indeed have a glut of marijuana; there are over 1m lb of usable but unsold marijuana, according to the state tracking system.
That’s more than 128m “eighths” of weed, and almost three times the amount of cannabis sold in Oregon in all of last year.
Flooded with supply, prices are dropping so much that some dispensaries in the Portland area are selling the drug for $4 a gram. That’s less than half the cost of a bargain-basement batch in other US cities where marijuana is legal, like Denver and Seattle.
When the Oregon Liquor Control Commission (OLCC), the agency in charge of cannabis regulation, issued the first licenses to businesses in 2016, projections were for 800 to 1,200 businesses to obtain cannabis licenses in the first couple of years, according to Mark Pettinger, a spokesman for the OLCC.
But 1,824 marijuana-related business licenses have already been issued, including 981 production operations. Another 967 production licenses are in various stages of approval by the state and could come online later this year.
Molly Conroy, the program director for the Oregon Cannabis Association, cautioned that this is a brand new market that needs time to adjust.
“Every agricultural crop has its highs and its lows,” she said. “No pun intended.”
(Excerpt) Read more at theguardian.com ...
For those who are interested:
https://www.leafly.com/news/cannabis-101/costs-of-cannabis-growing-vs-buying
When it goes back to $35 a oz, I might be interested.
I remember $10. Three fingers. Anyone who knows what I just said is too old.
I bet they can.
Just like having an herb garden.
Better have like minded neighbors or expect an visit by the “po po”
Not in Oregon apparently.
"He plans to keep growing marijuana to maintain his brand until the market rebounds. In the meantime, he estimates that the marijuana portion of his business is losing between $5,000 and $10,000 a month."
Good!
Thanks, see ya’
Ed
He over grew and continues to do so. Know your market.
You know what’s crazy?
I partake of cannabis and then fast for half a day on the weekend.
My tummy is sad in the beginning, but gets over it.
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