Connect with us

Cannabis

Cannabis oversupply prompts stores to offer huge discounts

The surplus on the Oregon cannabis market is so high that existing stocks may last up to 6,5 years. As a consequence, customers can now purchase 1 gram of cannabis for only $1. A cannabis store in San Francisco has applied huge discounts to a variety of cannabis known as Acai Berry. If in the past 3.5 grams cost $75, at the moment it can be purchased for only $1.

Arturo Garcia

Published

on

This picture show a man selling cannabis.

Due to high cannabis surpluses, in the state of Oregon customers can already get a gram of good quality cannabis for only $1. At the same time, at a cannabis store in San Francisco, some Californians can buy 3.5g of cannabis for the same price – $1.

Cannabis is one of the world’s most talked-about topics. The Hemp.im cannabis news application focuses on the latest news, social change, economic trends, and medical information in the cannabis industry. As your official hemp news app, we also cover salient topics like the Hemp Farm Bill, the legality of hemp, the various health benefits of hemp as well as the multitude of products made from hemp.

Existing cannabis stocks in Oregon could last up to 6 years

A study carried out by the Oregon Liquor Control Commission and presented to the State legislature showed that the surplus on the Oregon cannabis market is so high that existing stocks may last up to 6,5 years.

The report has been compiled over the last three years since farmers have been allowed to grow cannabis for commercial purposes. Politicians wanted to keep an eye on the development of the cannabis market and determine which elements of it may need to be improved. A previous audit carried out by the Oregon Health Authority showed that the regulators had not done enough to prevent legally grown cannabis from entering the black market.

The same report showed that only 45% of the cannabis sold in legal stores goes to the end consumer. The remainder comes from a variety of sources, including legal crops at home, medical cannabis pharmacies and the illegal cannabis market. Patients are also starting to source from recreational cannabis stores (due to lower prices) and the state medical cannabis program is in increasingly poor condition.

SEE ALSO  Coffee futures edge higher in New York and London markets

A San Francisco cannabis store applies huge discounts to help customers who are short of money

This last weekend, Barbary Coast, a cannabis store in San Francisco, presented a new ‘compassion’ menu for customers who are in financial trouble because of the coronavirus pandemic that hit the US. The menu offers Sherbinskis’ proprietary Acai Berry variety – 3.5g for 1$. Usually, this amount of Acai Berry costs $75.

“San Francisco has set the tone for the world in terms of cannabis supply and the sympathy of the cannabis community,” said Mario Guzman, head of Sherbinskis cannabis company and world-famous breeder of Gelato and Sunset Sherbet.

Last week, 3.3 million Americans became unemployed after the US economy came to a halt following the outbreak of the new coronavirus. That was the biggest increase in unemployment in the country’s history. The previous record was registered in 1982 when nearly 700,000 people lost their jobs.

Barbary Coast will ensure that cannabis consumers in the Bay Area can continue to buy quality cannabis, even if their bank accounts are not currently at their best. To get access to 3.5 grams for $1, customers will not have to provide proof of their financial difficulties. Barbary Coast does this discount for “honorable” reasons.

California and other states considered cannabis clinics “essential” during the coronavirus pandemic. To prevent the spread of the COVID-19 virus, California residents are to remain at home, except in certain circumstances, such as buying food, medicine or cannabis.

__

(Featured image by Add Weed via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in FAKTY KONOPNE.PL, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Arturo Garcia started out as a political writer for a local newspaper in Peru, before covering big-league sports for national broadsheets. Eventually he began writing about innovative tech and business trends, which let him travel all over North and South America. Currently he is exploring the world of Bitcoin and cannabis, two hot commodities which he believes are poised to change history.