Croptober has come to an end and sungrown cannabis is about to flood the Oregon market. So far, wholesale prices appear to be rebounding after a challenging few years. This may result in a positive outcome for the outdoor farms compared to the last two harvest seasons.
In 2017 and 2018, Oregon farms harvested over a million pounds of usable cannabis, driving down wholesale prices by 50%. The increasing amount of licensed producers caused a cannabis surplus and the competition was high. According to Sophia Bagi, owner of Roseway Organics, prices were averaging $600 a pound but dropped as low as $50 by the end of the season. This led to consumer prices dropping as well, putting more pressure on the growers. Historically, this phenomenon made it very difficult to predict this years harvest.
However, it appears that wholesale prices for outdoor cannabis is on the rise after this years croptober. Dispensary purchasers, including Miss Bagi, are noticing a difference in prices per pound. Recent reports have shown wholesale prices selling for over $1,000 which is a substantially higher amount than last year. It looks like it could be a good year after a long, challenging season for outdoor farms. No sign of a surplus yet, but we’ll keep an eye on the market to see how the rest of this year will go!