Oversupply is not a new issue in the cannabis industry.
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In 2019, when there was reportedly a shortage of legally grown cannabis in Canada, industry experts predicted that would soon turn to a glut , a situation that had previously unfolded in some legal states. Still, Canadian licensed producers rushed to acquire massive facilities with huge yield potential, even without any demonstrated demand for their products. Then the predictions came true .
And though California is now five years into legalization, Forbes reports some growers have had to let their bud turn bad this year due to high taxes and a flood of suppliers.
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