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.
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
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always avoid Oregon grown weed
why because it is the best in the country?
Because a lot of this is being grown by cowboys and cowgirls who don’t give a sh*t about quality.
Your an idiot.. it’s the best in the country
Dream 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.
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.
Last year black market OR prices were as low as $100/lb and with the new harvest, I can’t imagine them going lower. Here in CA black market prices are around $70/oz or $850-$1K/lb
$100 a lb?
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.
Same thing happened in Alaska, it will even out.
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.