What’s Oregon Gonna Do With All That Weed?
A local band, the Camo Cowboys, have a song that asks “What You Gonna Do With All That Weed?”
Oregon is facing the question, too. An article today about Oregon’s overproduction of cannabis in The Guardian asks, “How do you move mountains of unwanted weed?”
According to the article,
In February, state officials announced that 1.1m pounds of cannabis flower were logged in the state’s database.
If a million pounds sounds like a lot of pot, that’s because it is: last year, Oregonians smoked, vaped or otherwise consumed just under 340,000lb of legal bud.
That means Oregon farmers have grown three times what their clientele can smoke in a year…
Yet state documents show the number of Oregon weed farmers is poised to double this summer – without much regard to whether there’s demand to fill.
The result? Prices are dropping to unprecedented lows in auction houses and on dispensary counters across the state.
Of course, as Oregon cannabis farmers are facing dropping prices, many of them are struggling to stay in business. One farmer talked of sending his flowers to the auction block expecting to get around $400 a pound–Instead, he received $100 per pound.Small dispensaries, too, are staggering under the falling prices. The diverse marketplace is being captured by a few businesses with deep pockets, argues one of the sources quoted.
The Guardian’s piece states,
Ask someone in the cannabis industry what to do about Oregon’s weed surplus, and you’re likely to get one of three answers.
The first is to cap the number of licenses awarded by the OLCC. The second is to reduce the canopy size allotted to each license – Massachusetts is trying that. And the last, equally common answer is to simply do nothing. Let the market sort itself out.
Until the market sorts this out, Oregon along with California is likely to be singing along with the Camo Cowboys, “Where are you going to sell all that weed?”
Read the whole article by clicking here.