With Demand Outpaced by Supply, Oregon Weed Retailers Lower Prices

7w
2m read
Summary

Since legalization in 2016 Oregon cannabis sales had been experiencing steady year-over-year increases,” Pettinger added. Harvest and sales numbers both plunged last month in Oregon, and the result could be cheaper cannabis for consumers. It’s only the second time sales have dropped below $84 million since the start of the pandemic,” the station reported at the time. It’s just like throwing money down the toilet.” Oregon voters legalized adult-use cannabis by approving a ballot measure in 2014. That downward trend followed two consecutive years in which the state topped $1 billion in sales. “In June, sales totalled $82,723,244.

Article Preview

Harvest and sales numbers both plunged last month in Oregon, and the result could be cheaper cannabis for consumers.

That is the upshot of a report by local news station KOIN, which cited the Oregon Liquor and Cannabis Commission’s data showing “that in October 2021, nearly $94 million went to the state’s cannabis industry,” while last month, the industry received only about $79 million in total sales.

The station reported...

Read the full article @ High Times