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Legal cannabis is the sixth largest cash crop in America

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Prepare to spend a much smaller percentage of your income on cannabis as legalization spreads and prices fall.

According to the new 2022 Hemp Harvest Report Today published cannabis prices tumbled despite a year of historic inflation. US adult cannabis growers planted 554 metric tons of cannabis in 2022 compared to the previous year. However, the value of the crop decreased by a billion dollars. That’s because rationing makes the pot price go down. Large-scale farming and high technology pushed wholesale prices to historic lows in Colorado this summer. Grams of a flower can run up to $4 in Oregon.

Prices promise to go down even more. In conclusion, we are only a quarter of the way out of the ban, according to the report.

Download 2022 Hemp Harvest Report

How much legal cannabis is grown in the United States?

How much legal cannabis is grown in the United States? It’s a big and vague question.

Gallup reports that about 68% of Americans are ready to end the 85-year war on marijuana and switch to a regulated system. But so far, no regulator or politician can give you a progress report on this key. The lottery can fly.

According to the second annual Leafly Cannabis Harvest Report for 2022, adult cannabis growers grew 2,834 metric tons last year. Based on federal use surveys, 2,834 tons make up only about a quarter of Americans’ annual demand for marijuana. So we’re only 24% of the way out of the failed catastrophic ban. To get out, the remaining embargo states will legislate, as will Congress, and it will take your vote.

The Leafly Cannabis Harvest 2022 report found that overall, weed growers in the western United States have grown too much over the past year. Meanwhile, Midwest and Eastern farmers did not grow enough to meet their region’s demand. Because of the federal ban, licensed growers cannot sell across interstate lines. However, the illegal market does. This dynamic hurts legitimate Western farmers, while overcharging Midwest and East Coast customers. For example, Illinois and Maine residents pay some of the highest marijuana prices in the country. Colorado, Oregon, and California pay some of the lowest prices.

Our findings suggest that Congress needs to implement the will of 68% of voters and send cannabis reform bills to President Biden this year. Americans want to vote with their dollars to buy artisanal, heirloom, and sustainable cannabis, but they can’t — yet. Small farms fail and companies take over with each day we fall behind.

Dozens of farmers reported in, reflecting the regional boom and stagnation of the rapidly changing field.

In Emerald Cup-winning Ridgeline Farms, Jason Gellman sees Humboldt County, California, teetering from the end of Prohibition.

“The prices this year are at an all-time low and very tragic for all artisanal farmers….

Jason Gilman, Ridgeline Farms, Humboldt County, California

Prices this year are at an all-time low and very tragic for all artisanal farmers. Not many people will be able to afford to keep their farms going. Our society as a whole is in a poor financial position.”

By contrast, Dusty Schuyer, president and chief operating officer of Revolution in Illinois and Missouri, said, “It’s been a great year for Revolution: We’ve finally completed two expansion projects and brought 10 other online small group planting rooms in Illinois and a small high-tech complex growing in Missouri. Both It yields amazing results.”

What is the methodology for the 2022 Cannabis Plant Harvest Report?

The Leafly Cannabis Harvest Report offers readers a free, unique combination of:

  • License records
  • Total country production of cannabis
  • sales and tax reports,
  • Trade price trends
  • field measurements
  • Leafly Jobs Report 2022
  • USDA data
  • and expert interviews.

David Downes, Leafly News Award-winning Senior Editor and Researcher Amelia Williams, along with Bruce Barcot, Whitney Economics, and other contributors have reported the results. The team spent the fall finding the average marijuana price in each state in the study, determining how many pounds grew in those states, then multiplying these two factors to determine the value of the crop in each state — and nationally. Photographers CannaPics and Mike Rosati Photography captured the trends that define farming, and the report was designed by Sasha Beck.

We studied 15 operational adult use cases where any adult over the age of 21 could go in and buy cannabis like any other crop. In this year’s report, we also added the four states that began sales in 2022: Montana, New Mexico, New Jersey and Vermont. The medical and illegal marijuana markets are excluded from the report, the inclusion of which would incorrectly inflate our numbers. More details on page 27 of the report.

More quick facts:

  • Hemp ranks first for cash crops in three states, including New Jersey during its first year of operation.
  • Wholesale prices in Colorado hit an all-time low in July.
  • Regulators in the world’s largest legal cannabis market, California, do not report how much the licensees have grown.

Related

Countries in the United States where marijuana is illegal

Why do we need a harvest report?

Neither the USDA nor state regulators calculate the yield as they do other farming. For the second year in a row, Leafly exclusively counts the production and value of the adult cannabis crop. We did this because voters and leaders need this basic information to make choices.

Regulators in most legalization countries can’t provide the basic truth about cannabis markets, such as, “How much have you grown?” Or, “How close is society to replacing the illicit market?”

Thanks to Leafly, voters and policymakers have the information to follow policy changes. Cannabis growers can use the data to begin exercising political power in proportion to their economic leverage. Why do tobacco growers get federal disaster aid, while licensed cannabis growers can’t?

Hemp is essentially an agricultural product. Seeing it through that realistic lens makes the case all the more clear. Activists Use Leafly Reports – Including Cannabis Jobs Reportand the Withdrawal reportIn local, state and national legislatures to promote legalization and normalization of the cannabis trade.

Download the report and share it with your industry peers and regulators. We hope this will lead to more research and better data collection. We’ll also have updates in the coming weeks to forecast oversupply in Michigan, and enforcement in Oklahoma, Oregon and California.

Contact us with questions, corrections, clarifications and more at news@leafly.com.

Frequently Asked Questions

American marijuana production and value:

Q: How much cannabis is grown in the United States?

A: US adult hemp plantations grew 2,834 metric tons of cannabis last year. Medical and illicit production is 3 to 5 times greater and includes some illicit flows from Mexico.

Q: What is the value of growing weed?

A: As a crop, cannabis used by adults is worth $5 billion in 2022 and is the sixth most expensive crop in the United States – before potatoes or rice.

Q: How is weed legalized?

A: America is only about a quarter of the way to legalizing marijuana, as measured by the legal amount grown (2,834 metric tons annually), versus estimated demand (12,000-15,000 metric tons). Only 15 states will allow the sale of adult cannabis in 2022.

Source: Leafly

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