{"id":12114,"date":"2023-03-02T17:07:41","date_gmt":"2023-03-02T17:07:41","guid":{"rendered":"https:\/\/ultimatehealthreport.com\/can-legal-cannabis-succeed-battling-the-oversupply-problem\/"},"modified":"2023-03-02T17:07:41","modified_gmt":"2023-03-02T17:07:41","slug":"can-legal-cannabis-succeed-battling-the-oversupply-problem","status":"publish","type":"post","link":"https:\/\/ultimatehealthreport.com\/can-legal-cannabis-succeed-battling-the-oversupply-problem\/","title":{"rendered":"Can Legal Cannabis Succeed?\u00a0Battling the Oversupply Problem"},"content":{"rendered":"
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The cannabis industry is facing a unique crisis. Despite achieving enormous growth as more states come online, many producers are struggling. Oversupply, particularly in mature markets, has caused wholesale prices to hit rock bottom. A number of operators have been forced to eradicate vast quantities of flower they simply could not sell.<\/p>\n
The problem has hit certain markets especially hard. Headlines swirled this summer when it was reported that Canadian cannabis growers destroyed a record 425 million grams (468 tons) of unsold, unpackaged product in 2021. <\/p>\n
Since adult-use sales began in 2018, cultivators in Canada have destroyed nearly one billion grams.<\/p>\n
It\u2019s a similar story in California. Legacy farmers in the famed Emerald Triangle, many of whom have cultivated for generations, have been frantically waving the red flag since adult-use sales began nearly five years ago. Other states are seeing the same trend.<\/p>\n
\u201cIt is too late for a lot of the small farmers \u2014 we will likely see 50% of all Emerald Triangle farms disappear by the end of this year,\u201d said John Casali, owner of Huckleberry Hill Farms in Humboldt County. <\/p>\n
Footage of Casali mulching pounds upon pounds of cannabis went viral earlier this year, adding further visibility to the catastrophic issues farmers are facing. But what will it take to get the industry back on track?<\/p>\n