Marijuana is California’s Largest Cash Crop – By Far
A new report has found that marijuana is California’s largest cash crop; in fact, its sales are nearly four times that of the next most valuable crop, and are more than the next four leading agricultural commodities combined.
Conducted by the Orange County Register, the report used farm receipt data from the Department of Food and Agriculture; for determining the market for cannabis, they used data from plant seizures, UN Office on Drugs and Crime statistics and other factors to determine an estimated value.
Below is a list of California’s top five agricultural commodities and how much is sold annually:
- Marijuana – $23.3 billion
- Milk – $6.28 billion
- Almonds – $5.33 billion
- Grapes – $4.95 billion
- Cattle, calves – $3.39 billion
- Lettuce – $2.25 billion
These numbers, of course, are prior to the state’s legalization of cannabis. In November voters gave approval to Proposition 64; the initiative legalizes the possession, personal cultivation and licensed distribution of cannabis for those 21 and older.
The $23.3 billion market for cannabis will likely skyrocket once legal retail outlets open next year.
Travis
That number is crazy inflated. As cannabis becomes more legal around the nation and more farmers begin to grow the crop, the price will drop dramatically. Yes, the total volume of cannabis sold will go up, but the cost of cannabis will surely plummet. For example, a bushel of corn is currently selling for about $3.61/bushel. One bushel is 56 pounds of shelled corn. I’m just taking a guess, but an ounce of cannabis likely sells for $50~ from the farmer to the processors. That’s just one ounce of cannabis, compared to 56 pounds of corn!
Travis
That number is crazy inflated. As cannabis becomes more legal around the nation and more farmers begin to grow the crop, the price will drop dramatically. Yes, the total volume of cannabis sold will go up, but the cost of cannabis will surely plummet. For example, a bushel of corn is currently selling for about $3.61/bushel. One bushel is 56 pounds of shelled corn. I’m just taking a guess, but an ounce of cannabis likely sells for $50~ from the farmer to the processors. That’s just one ounce of cannabis, compared to 56 pounds of corn!