Weed Feed: Oregon Marijuana Growers Turn to CBD Oil as Bud Prices Plummet

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WEED FEED / John Ross Ferrara / Tuesday, May 22, 2018 @ 9:21 a.m.

Weed Feed: Oregon Marijuana Growers Turn to CBD Oil as Bud Prices Plummet

Video by the AP, Posted by USA Today.

As weed prices drop to less than $5 a gram in Oregon, growers are turning to CBD oil as the next big moneymaker.

Hemp | Wikimedia.

The Associated Press reports that CBD oil is selling for thousands of dollars per kilogram, allowing growers to make more than $100,000 per acre of hemp — the plant used to produce the non-psychoactive drug.

As a result, applications for hemp-growing licenses are on the rise in the Beaver State.

A similar situation could take place in California, where industry representatives estimate growers produce eight times more marijuana than the state consumes.

Overproduction will likely continue to be an issue for states with recreational marijuana laws unless the drug is decriminalized at the federal level, which would allow for legal out-of-state distribution.

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