Along the West Coast, producers face what many call the failed economics of legal cannabis. There is vast supply, but any surplus remains trapped within each state’s borders due to the federal ban.
Joy Panyanouvong of Doc & Yeti Urban Farms, a licensed cannabis producer, trims marijuana plants in Tumwater, Wash., on March 15, 2023. Along the West Coast, which has dominated U.S. marijuana production from long before legalization, producers are struggling with what many call the failed economics of legal pot...a challenge inherent in regulating a product that remains illegal under federal law.
California’s “Apple store of weed,” MedMen, is teetering with millions in unpaid bills, while the Canadian cannabis company Curaleaf has shuttered cultivation operations in California, Oregon and Colorado. No one expects Congress to help out by legalizing the drug nationwide. Instead, some are pinning their hopes, however faint, on President Joe Biden’s administration approving marijuana trade among states that have regulated it.That would allow the West Coast — with its favorable climate and cheap, clean hydropower for indoor growing — to supply the rest of the country, they argue.
That has helped some smaller growers thrive. But it would hamstring those who hope to compete in an interstate marketplace alongside larger, more efficient producers from Oregon or California, who face fewer restrictions. In Washington, which has some of the highest cannabis taxes in the country, the prices consumers pay are still cheaper than illicit weed. The state is raking in half a billion dollars a year in taxes.With the spring planting season arriving, Moberg, of CannaSol Farms, says he already has three shipping containers of unsold weed, including 75% of what he produced last season.
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