How Big is the California Marijuana Market?
A new figure has been making the rounds that has ganjapreneurs and cannabis investors on the west coast sitting up in their seat. The number is $23.3 billion, and it’s the latest economic estimate on just how much cannabis stands to be produced in California now that plant is coming out of the proverbial closet of prohibition.
Where did this number come from?
Last week, The Orange County Register deduced data sourced from California Department of Agriculture, Drug Enforcement Agency, Leafly.com, U.S. Department of Justice, Washington State Liquor and Cannabis Board, and Priceofweed.com to estimate current marijuana market production and values. The paper came up with a huge figure – one which places marijuana at the top of the state’s crop production, and would account for more market activity than the next five agricultural commodities combined. (Milk, almonds, grapes, cattle, and lettuce in California account for $22.2...
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