Oregon's cannabis industry is drowning in its own supply — last year's record-breaking harvest exacerbated an already oversaturated market and dropped consumer prices to their lowest ever, according to a new state report. While consumers benefit from rock-bottom prices, independent growers, manufacturers and distributors are facing razor-thin margins amid wavering demand.
Nearly 12.3 million pounds of cannabis was harvested in 2024, the largest ever thanks to "ideal growing conditions in Southern Oregon," per a recent Oregon Liquor and Cannabis Commission report.
Demand remains flat. The total number of sales ($960 million) is roughly the same as last year. OLCC estimates only 57% of the supply met demand — meaning there's double the amount of product compared with what people are actually buying.
That led to the median retail price-per-gram of flower dropping to $3.75, the lowest since legalization nearly a decade ago.
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