AFTER A BUMPER CANNABIS CROP IN 2017 SENT WEED prices plummeting in Oregon, some farmers were put out of business. Guess what? This year’s crop looks to be even bigger.
The 2018 harvest increased by five percent over 2017’s, according to economist Beau Whitney of New Frontier Data. The increase came from new growers joining an already crowded industry, he said, reports Willamette Week.
Wholesale cannabis prices fell about 50 percent last year, according to New Frontier. The tough market isn’t just challenging for legal growers, according to Whitney. It could also run black market growers into the ground, as consumers access cheap legal weed.