Adult-use cannabis prices in Oregon fell to an all-time low last year even as the state saw its largest-ever cannabis harvest, OregonLive reports.
Cannabis prices have been under $4 per gram for almost two years, reaching a record low of $3.51 in December 2024. The low prices are the result of an oversaturated market that “continues to strain marijuana businesses,” according to the Oregon Liquor and Cannabis Commission, which said the state’s cannabis supply is nearly double its consumer demand for the products. The issue compounds when cultivators bring in bigger and bigger harvests each year — licensed growers produced 12.3 million pounds of cannabis last year, 28% more than the previous year.
“The 2024 harvest indicates there will be larger inventory stockpiles in the system going forward, putting more downward pressure on prices and delaying revenue for marijuana businesses.” — OLCC statement, in the report
Oregon lawmakers have set licensing moratoriums on cannabis growers and retailers in the state but the pause on new licenses did little to address the market’s burdens.
The OLCC said the path to real progress will require a shift in federal policy: “Until the federal government creates pathways to interstate commerce, the Oregon recreational marijuana market will be characterized by variations on the same theme: a competitive marketplace that features low prices for consumers but low margins for businesses,” the agency said in the report.
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