skip to Main Content
Oregon marijuana prices dive — and sales soar

Rampant overproduction in Oregon’s market for legal, recreational marijuana has produced a 50 percent drop in prices, according to state economists. That widely documented collapse has been tough on farmers and retailers — but a boon for consumers.

A new state analysis finds the price collapse sparked a big uptick in marijuana purchases and a corresponding increase in associated tax revenue, The Oregonian/OregonLive reported.

“Lower prices are helping to drive the volume of sales higher and induce black and medical market conversions into” the legal, recreational market, said Josh Lehner of the Oregon Office of Economist Analysis.

Recreational marijuana sales in Oregon will be nearly $543 million this year, up 29 percent from 2017 and well above economists’ expectations, forecasts show.

When Oregon legalized marijuana four years ago, expectations were enormous for the newly legal market. The state created incentives for producers to leave the black market, leading to overproduction and the ensuing price decrease.

A state study found the retail cost of a gram of marijuana plunged from $14 in 2015 to $7 last year. [Read more at The Seattle Times]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

California’s legal weed industry can’t compete with illicit market

Local government opposition, high taxes and competition from unlicensed businesses are complicating the state’s push to build a thriving legal market. LOS ANGELES — California’s cannabis market is booming nearly five years after voters legalized recreational weed. But there’s a catch: the vast majority of pot sales are still underground. Rather than make cannabis a…

Europe’s First Adult-Use Cannabis Market Confirmed With Luxembourg Permitting Household Cultivation And Consumption

LUXEMBOURG is to become the first European country to permit adult-use cannabis after the Government announced measures to permit households to cultivate up to four domestic plants. The announcement, earlier today, applies to to all citizens over the age of 18 with the new regulations also allowing for the sale and import of seeds. However,…

Scientists Develop Quick Test for Marijuana Use

FRIDAY, Oct. 22, 2021 (HealthDay News) — Researchers may be one step closer to developing the equivalent of a Breathalyzer for detecting marijuana use. In an early study, scientists found that their rapid test was able to reliably detect THC in people’s saliva in under 5 minutes. THC, short for tetrahydrocannabinol, is the active ingredient…

Adult Use Cannabis and The Workplace

New York Labor Law 201-D This document is intended to address some of the most common situations or questions in the workplace related to adult-use cannabis and the Marijuana Regulation and Taxation Act (“MRTA”). This document does not address the medical use of cannabis. For further assistance with New York Labor Law and the MRTA, please…

More Categories

Back To Top
×Close search
Search