Waiting for Cannabis Prices to Go Up? Risky Move, Smart Decision, or Only Choice?
Marijuana Business Daily, a Colorado based cannabis news outlet, interviewed multiple Emerald Counties farmers for a recent story and said that some of them are holding onto product hoping that prices will rise to $1,300-$1,700 per pound for wholesale flower when retailers are only allowed to sell product that passes the new California tests later this year.
According to an interview the Marijuana Business Daily did with Terra Carver, executive director of the Humboldt County Growers Alliance,
Holding back marijuana could create a shortage of clean product for retailers, and that’s exactly what a lot of small growers are banking on, Carver said.
She estimated there are probably “thousands” of pounds of flower in Humboldt County waiting to be brought into the legal supply chain.
“It’s kind of a play-the-market-and-see-what-happens moment,” Carver said.
“People had a decision to make, whether or not they were going to hold and wait in the hopes that there will be a price spike. We saw that in Colorado, we saw that in Washington.”
Other farmers, such as one they quote, a Nik Erickson of Full Moon Farms, said, “I never wait. If it gets trimmed up, it’s going out the door.”
So…are legal farmers holding product hoping for higher prices or selling it as fast as they get it trimmed as Marijuana Business Daily’s article suggests? Or are most of them unable to even find much of a legal market to sell in at all?
We’re curious to get your take.