with demand outpaced by supply oregon weed retailers lower prices 153430

With Demand Outpaced by Supply, Oregon Weed Retailers Lower Prices

With Demand Outpaced by Supply, Oregon Weed Retailers Lower Prices
High Times
cnwsq150x150 1
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 that the Oregon Liquor and Cannabis Commission also “reported 5.3 million wet pounds harvested by all producers” in October of last year, while last month, “that number fell to 4.1 million.” “The September/October time frame is a harvest ‘window’ for outdoor cannabis grows in southern Oregon,” Mark Pettinger, spokesperson for the Oregon Liquor and Cannabis Commission told the station. “The actual harvest time is based on when cannabis farmers get their crop in the ground. Late rains pushed out the planting time this year. Also, the lengthy sunny and warm weather this fall probably affected decisions about when to harvest.” “On the demand side, cannabis sales saw some significant spikes during the pandemic when consumers had fewer choices on how to use their discretionary income. Also, there was a fair amount of federal stimulus money that probably accounted for some of those increases. Since legalization in 2016 Oregon cannabis sales had been experiencing steady year-over-year increases,” Pettinger added. Indeed, after cannabis retailers across the country saw a dramatic bump in sales in the age of quarantine, the industry has careened back to earth in recent months, particularly as inflation continues to tighten consumers’ pocketbooks.  KOIN reported in August that the “pandemic boom may be coming to an end for Oregon’s cannabis industry,” with the state experiencing a steady decline in revenue from April onward. That downward trend followed two consecutive…

Excerpt only …
Source : With Demand Outpaced by Supply, Oregon Weed Retailers Lower Prices

reposted by Cannabis News World

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.