Study: Oregon Has 6.5 Years of Cannabis Oversupply
A report completed last week by the Oregon Liquor Control Commission shows that there’s enough cannabis already in stock in Oregon to meet more than six years of demand — and the state keeps issuing licenses to new producers.
Full story after the jump.
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A study completed last week by the Oregon Liquor Control Commission and submitted to state legislators shows that the level of oversupply in the Oregon market is so high that existing stocks could supply 6.5 years of current demand, The Oregonian reports.
The report was compiled over the last three years of growing and two years of legal sales. Regulators wanted to stay in touch with how the market was developing and identify what policies may need to be adjusted. A previous audit by the Oregon Health Authority showed that regulators were not staying up on inspections or doing enough to prevent the diversion of cannabis product to the illicit market.
Demand consisted of about half of the cannabis produced between July 2017 and June 2018, which was 2,000 metric tons (4.4 million pounds). If licenses continue to be approved as expected, Oregon is expected to produce 4,000 metric tons (nearly 9 million pounds) of cannabis by June 2019.3.7k
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