Both harvest and sales numbers plummeted in Oregon last month, potentially resulting in cheaper cannabis for consumers.
that’s the result Local news station KOIN reportciting data from the Oregon Liquor and Cannabis Commission, showed that “approximately $94 million was spent on the state’s cannabis industry in October 2021,” but last month the industry saw a drop in total sales. It only received about $79 million.
station report The Oregon Liquor and Cannabis Commission also reported that “all producers harvested 5.3 million pounds of wet pounds” last October, but last month “that number dropped to 4.1 million pounds.” ing.
“The September/October timeframe is a harvest ‘window’ for outdoor cannabis growing in Southern Oregon,” said Mark Pettinger, spokesperson for the Oregon Liquor and Cannabis Commission. I’m here. told the station“The actual harvest time is based on when cannabis farmers harvest their crops. may have influenced the decision of
“On the demand side, cannabis sales surged significantly during the pandemic when consumers had less choice in how they spent their discretionary income. There has been a large amount of federal stimulus money, and since we legalized it in 2016, cannabis sales in Oregon have increased steadily year-over-year,” Pettinger said. Added.
In fact, after cannabis retailers across the country saw dramatic sales increases during quarantine times, the industry has come back to reality in recent months, especially as inflation continues to squeeze consumers’ wallets.
coin report In August, he said, “Oregon’s cannabis industry pandemic boom may be coming to an end,” and state revenues have been steadily declining since April. This downward trend continued after state sales topped his $1 billion mark for the second year in a row.
“June sales totaled $82,723,244. This is the second time since the pandemic began that sales fell below $84 million.” report at the time. Experts say the fall in sales dollars is due to several factors, some of which include consumer trends, the role inflation is playing in the market, and the price at which retailers are able to sell their products. increase. ”
Oregon marijuana consumers feeling an inflation pinch may take some comfort from this trend.As KOIN reportthe drop in prices “may benefit consumers who want the same quality of cannabis for less money, but it puts buyers and sellers in the industry at a disadvantage.”
“The way all states have set up their system is you have to grow, produce, manufacture a product for retail and keep it all within the state,” said a cannabis industry consultant. A certain Bo Whitney Said local station. “The ‘everything is in the state’ mentality means there won’t be enough consumers in the state to handle all the supply. Prices will go down.They will want to sell their products.”
“What growers have done is stop growing,” added Whitney. “They’ve reduced the amount of square feet or acres they’re developing for cannabis cultivation. Because if you can grow cannabis and you can’t sell it, what does it mean? Throw money down the toilet. It’s like.”
Oregon voters legalized cannabis for adult use in 2014 by approving a ballot measure. Legal cannabis sales began the following year.