Washington State has seen such a bumper crop of marijuana that the prices are reaching an all-time low. The state may just have too much marijuana.
State records show that marijuana growers have been able to grow 16,000 more pounds than retailers sold last year, leading MjBizDaily to suggest that prices will fall. However, this doesn’t necessarily mean that you’ll be able to get ultra high-quality marijuana for cheap—producers are likely to hold on to it until prices rebound.
The over-abundant supply of marijuana is not good news for everyone. The surplus has caused some companies to shut their doors. Because there’s so much product, they are unable to sell their crops. With recreational marijuana still in its infancy, this type of trend could have long-term implications in the industry.
A similar situation occurred in Colorado when recreational marijuana was legalized. Luckily, prices eventually stabilized. Our best advice is to take advantage of the low prices while you can, Washington—you’re likely never to see them this low again!