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Washington state cannabis oversupply spurs calls for change

by | Jan 22, 2018 | General Interest, News, Trends

Washington state’s cannabis supply continues to swell, flooding the market and causing both wholesale and retail prices to sink.

After the October 2017 outdoor harvest – the state’s largest to date – Jim MacRae, owner of cannabis-focused business intelligence firm Straight Line Analytics in Seattle, says the market will have a 60% larger supply than in 2016.

With an ounce of legal marijuana flower selling for as low as $40 in the state’s retail stores, both shop owners and producers are seeking changes to Washington’s cannabis regulations.

Lawmakers and industry leaders are discussing ways to correct the market, including:

  • Reducing the amount of square footage growers are allowed.
  • Ending license transfers so when a business fails, its permit is no longer on the market.
  • Putting a moratorium on the approval of new licenses.
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