Portland Weed Prices are Falling From Cheap to Damn Near Free, and We Haven’t Yet Found the Bottom

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Weed Prices are Falling From Cheap to Damn Near Free, and We Haven’t Yet Found the Bottom Reason no. 20 to love Portland right now.

If you live in Portland and enjoy weed, you’re in luck: We’re currently experiencing a massive statewide cannabis surplus. Prices are falling, and there’s no bottom in sight.

It’s estimated that Oregon now produces three times more cannabis than its regulated adult-use market consumes in a given year. And the bubble only inflates as more and more speculative cash goes online. Presently, the Oregon Liquor Control Commission has issued 912 producer licenses, while an additional 1,107 await approval.

This means more grow operations will be launching amid an already flooded market—one best characterized by desperate and yet-to-profit farms competing with other desperate and yet-to-profit farms, and by growers slashing wholesale rates to the bone and sacrificing margins to meet bare operational costs.

According to a recent report in Marijuana Business Daily, wholesale prices for raw, extract materials—post-harvest trim, B-grade buds and other lesser-quality flowers, the kind of stuff that’s commonly used to make the concentrates that fill inexpensive, disposable vape cartridges—have fallen to as low as $50 a pound.

This means that not only will flower prices bottom out in the coming months and years, but we’ll probably see dramatic price reductions on concentrates and edibles as the oversupply is transmuted into more shelf-stable products.

To be clear, though, we’re not applauding the current state of the industry—a lot of people stand to lose a lot of money—but one person’s flaming investment is another person’s smoke, smoke that consumers will be enjoying for unprecedented low prices until the market levels out.

Read the full article here.

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One comment

  1. Sounds good to me. All the veteran growers are shifting their focuses into specific work these days, not wasting time “farming” cannabis because it’s a race to the bottom when so many people are involved. And I can’t feel bad for profiteers losing out on money because it means the people can have access to the plant and it’s extracts for cheaper. It’s likely to be like the dot com bubble where too much supply ends up destroying all kinds of companies. This is everything legalization was supposed to bring about. Why wouldn’t it drop to the price of regular edible foods like tomatoes when it’s so easy to grow and process? Up here in Canada the government is living in a fantasy world if they think the price will be upheld artificially by laws. It’s just too easy to grow and share at that point.

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