Economic inflation has driven up prices on grocery store shelves and gas pumps this year, but cannabis prices have actually fallen.
In June, cannabis hit its lowest value since late 2019, the Oregon Liquor and Cannabis Commission reports. Revenue also fell from a 2021 high.
Eugene businesses say customers are still coming, but they are buying less. Mark Pettinger of the OLCC’s Recreational Marijuana Program said inflation and exhausted stimulus have tempered customer demand.
“The discretionary income that they'd accumulated or had available during the onset of the pandemic, they're now having to spend on other expenses.”
Last year’s harvest shattered previous records. Excess cannabis can be preserved in shelf-stable products, but if demand isn’t high enough, growers may be forced to throw it away.
Pettinger said Oregon cannabis businesses are pinched by federal restrictions, but adds the industry is still trending towards long-term growth.