EUGENE, Ore. -- Despite an oversupply of weed in Oregon, industry leaders say the surplus is low in quality and demand.
They said the surplus of low-quality cannabis comes from the surge in low-cost grows that sprouted up right after marijuana was legalized in 2014. Oregon has enough cannabis to last the state six years, they said.
"In the market right now, we have a surplus of low-quality cannabis, outdoor cannabis that is subpar, but the market for high-quality cannabis -- people who have been in the industry for over a decade -- there's not a lot of that," said Mike McGowan, Director of Agriculture at Kings Cannabis.
Cannabis industry leaders predict federal legalization in the near future, and look forward to Oregon becoming the "Napa Valley" of cannabis in the country.