April 3, 2024 1 Comment

April P3 Wire

Cannabis Industry in Oregon

Pop the Top on Oregon’s Cannabis Market

March has historically been a month of growth for the Oregon cannabis industry.  Every year we see an increase in sales in double digits as high as 23% in 2021. This year saw a much smaller expansion of 8.47%  That’s an increase of just about 6.5 million from last month for a total of 82.4 million.

Compared with last year’s sales this was a slight decline less than 1%.  However, looking at this year in general we haven’t seen any indication that there will be an overall decline.  Year over year changes were flat in January and February experienced a 4% increase overall. 

Not surprisingly weight sold increased by more than 7% representing the largest change in the last year.  With 4 20 sales to follow we see a March increase in weight sold every year.  It is interesting to note that the percentage increase is 6 points greater than what we saw last year.  

This relationship is a direct product of the stabilization of retail prices and wholesale prices.  Retail prices have stayed consistent around $3.90 per gram in this quarter and overall seem to have found a solid standard.   

Wholesale pricing as well has shown little change this year. In March the price went up a whopping $3.00 to $749.00 per pound.  For more than 6 months this cost has not fluctuated by more than 6.5% indicating the market’s stabilization.

All of these metrics are pointing towards a stabilized market for our industry.  Pricing on the wholesale and retail market are leveling off and businesses can plan based on solid data.

While March has shown growth it is lower than what we have seen in the past.  This follows an overall decline in the Oregon market which matches with trends in other mature legal states.

April traditionally runs a very small change from March in sales.  Based on the market and last month’s weak growth I’m predicting a larger increase in sales this year. 

 

March Recycling

 New lids mean less trash , more treasure

Last month we handed out our new “NO TRASH” lids for our recycling boxes to our members all over the state.  We are proud to see a massive 4% reduction in trash in our return.  Municipal recycling facilities across the country range in their return percentage from 5% to 50% and our proven system continues to blow those numbers out of the water above 80%.
 
Polypropylene return is on par with monthly averages and, while lower than last month, is showing strong growth compared with last year of more than 30% to 1580 lb.  The glass and metal we process can be recycled anywhere so we focus on the #5 plastics that metro won’t take. Increasing this percentage as we have this month by more than 5 points to 50% of our total return, increases the sustainability of our program.
 
 

1 Comment

  1. Cam McNeeley
    April 3, 2024

    We appreciate your commitment to recycling in our industry which is forced to produce so much extra waste!

    Reply

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