Marijuana Could Become Nevada’s Top Cash Crop

Medical marijuana could become Nevada’s most lucrative crop due in large part to the plant’s relatively light water requirements.

Dale Devitt, a professor at UNLV, told the Las Vegas Review-Journal that medical marijuana’s high retail price and relatively low water requirements will put it ahead of alfalfa farming and even golf course operations in terms of profitability per acre-foot of water.

Alfalfa earns $100 profit per acre-foot of water, while golf courses earn $5,000-$7,000 per acre-foot of water.

Devitt did not give a profit figure for marijuana cultivation but said the plant’s high value would “justify the use of water in the desert.”

“They’re going to make a lot of money using (a) very little amount of water,” Devitt said.

Terra Tech, a publicly traded firm that has applied for a cultivation license in Clark County, estimates that it can produce 75 pounds of marijuana each week at its 50,000 square-foot facility. That would yield between $15 million to $25 million in annual sales, according to Terra Tech CEO Derek Peterson.

Production costs, Peterson said, would eat up about 35% of his sales.

Peterson is planning to use a hydroponics system, which could limit his water usage. Still, he predicts he will use 330,000 gallons of water each year.

Daily News | Briefs | Nevada Medical Cannabis Business & Marijuana Legal News | Sales, Funding & Banking News

 2 Comments

  1. Jimmy Limo May 27, 2014
  2. linda warren May 28, 2014

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