Oregon cannabis harvest floods market again, driving prices even lower

More than a million pounds of marijuana flooded an oversaturated Oregon market last October, keeping prices low and further straining burdened cannabis businesses.

Oregon’s marijuana cultivators harvested more than 2.5 million pounds of wet cannabis last October, with 1.3 million pounds of “usable” marijuana entered into the state MJ tracking system by December.

That’s down slightly for the wet yield in 2017, which saw 2.6 million pounds of wet cannabis, but a bump from the 1 million pounds of usable cannabis harvest that year.

According to one analyst, Portland-based Beau Whitney with New Frontier Data, prices fell by 50% after the 2017 harvest, and he expects to see them slide by 35%-50% more after the 2018 crop fully hits the market.

Donald Morse, a cannabis consultant based in Portland, said marijuana growers reduced the number of plants they grew in 2018 – or didn’t grow at all.

At the beginning of January, 57 cultivation licenses had been surrendered and 70 had lapsed.

– Associated Press

 

13 comments on “Oregon cannabis harvest floods market again, driving prices even lower
  1. Richard LeFors on

    Market prices should always prevail, this crop is like any other now. Prices that were inflated due to illegalities are dropping to more real prices like corn and melons etc.

    Reply
  2. Derek Teixeira on

    After a few years go by, growers will come and go, and the market will even itself out. I imagine prices will average out to around $750 a lb.

    Reply
  3. Kathy on

    Maybe they could sell some of it to Canada, since it seems they ran out on day one, October 17th 2018, the first day of recreational & medcal, they ran out of product. Can you believe it, they had 2 years to prepare.

    Reply
  4. peaceout on

    Can oregonians just give up and stop flooding the market with boof? Seriously guys, no one likes Jaeger, its mids for out of state export.

    Reply

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