Oregon officials said cannabis growers have been flooding the market with recreational marijuana.
According to OLCC's data, cannabis growers produced more than one million pounds of dry cannabis flower in 2017. Retailers sold only 108, 330 of herb Leaving an additional 891,000 pounds of weed.
Mark Pettinger, who is a spokesman for OLCC, stated “We need to do a deeper dive into the data and look at the value-added products (concentrates, oils, edibles, and tincture). We need that to answer the question of how much inventory of flower is enough for the regulated market.”
The market is showing signs of overproduction. Wholesale prices are dropping and more growers are applying for licenses to begin cultivation.
Average prices for sun-grown cannabis dropped more than 50 percent - from $1500 to about $700 per pound.
Everything you need to know about marijuana from Livin' Weedy.