The price of hash rosin in Portland, Oregon has plummeted from $50-$80 per gram in 2021 to just $18 per gram today, according to David Taggart, owner of Slim’s Dispensary. This steep drop in price can be attributed to a supply and demand issue in the state’s marijuana market. With an oversupply of cannabis and stagnant demand, prices have hit an all-time low.
The Oregon Liquor and Cannabis Commission (OLCC) and economists in the area point to the pandemic as a key factor in the market’s struggles. In 2020, the state saw record marijuana sales, leading to growers being optimistic and a record harvest in 2021. However, demand failed to keep up with supply, leading to the current market conditions.
While there are steps the state and federal government could take to alleviate the issue, for now, businesses like Slim’s Dispensary are feeling the impact. Despite still being profitable, there is less margin for error, and the industry is not as lucrative as it once was.
However, Taggart remains optimistic about the future. “Maybe this year is not going to be the year we hoped for but next year would be much better,” he said.
The current state of Oregon’s marijuana market highlights the volatility and unpredictability of the industry. While oversupply can lead to low prices and reduced profits, a shortage can cause prices to skyrocket. As the industry continues to evolve and mature, it’s likely that businesses will need to be flexible and adaptable to changing market conditions. (Source)
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