Oregon is sitting on an immense stockpile of unsold cannabis, to the tune of 1.3 million pounds. This equates to an estimated 1.1 billion half-gram joints, underscoring the issue of cannabis overproduction.
The Growth of Oregon’s Cannabis Industry
Oregon’s cannabis industry has grown significantly since recreational marijuana was legalized in 2014. However, this expansion has led to a major problem of overproduction. The state’s consumption is far less than the production, with Oregonians consuming less than 375,000 pounds annually.
The Challenge: Diverted Legal Weed to Black Market
Government officials and the cannabis industry face a daunting challenge. A significant amount of legally-grown cannabis is ending up on the black market. It’s estimated that around a third of the state’s legal weed is being sold illegally.
Regulations and Oversight: Are They Working?
In an attempt to control the situation, state regulators have introduced new rules to increase the oversight of growers, cultivators, and processors. Yet, these updated regulations haven’t resolved the issue of excess marijuana.
Pioneering Solution: A Bill for Exporting Excess Cannabis
A group of lawmakers and cannabis industry insiders propose a groundbreaking solution – exporting the surplus marijuana to other states where it’s legalized, like Washington and California. This proposed bill, the first of its kind, could fundamentally change the game, despite being in conflict with federal regulations.
The Future of Oregon’s Cannabis Industry
Unless the export bill is passed or another solution is proposed, Oregon’s cannabis retail sector will face continuous price drops and the threat of federal crackdowns. Nevertheless, the proposed solution brings a glimmer of hope and potentially a new direction for managing the supply-demand balance in the cannabis industry.