Oregon marijuana prices are facing oversupply pressure after an October harvest that was 15% higher than the October 2022 yield.
That dramatic increase follows months of smaller harvests that had brought some much-needed relief to Oregon growers who previously faced plummeting flower prices because of oversupply, Willamette Week reported, citing state economists.
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“Through the first nine months of the year, the marijuana harvest was nine percent lower than a year ago, and 15 percent lower than the record crop back in 2021,” economists Mark McMullen and Josh Lehner wrote in their most recent forecast.
“As the market appeared to be adjusting, prices were stabilizing.”
But any hopes for price stabilization might now be dashed because of October’s bumper crop.
That supply spike “couldn’t have come at a worse time,” Beau Whitney, chief economist of Portland-based cannabis data and analysis firm Whitney Economics, told Willamette Week.
Read full article on Marijuana Business Daily
