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According to report last week from the Orange County Register, California's marijuana crop is not only the most valuable agricultural product in the nation's number one agricultural producer state, it totally blows away the competition.
Using cash farm receipt data from the state Department of Food and Agriculture for ag crops and its own estimate of in-state pot production (see discussion below), the Register pegs the value of California's marijuana crop at more than the top five leading agricultural commodities combined.
Here's how it breaks down, in billions of dollars:
The newspaper extrapolated from seizures of pot plants, which have averaged more than two million a year in the state for the past five years, and, citing the UN Office on Drugs and Crime, used the common heuristic that seizures account for only 10 percent to 20 percent of drugs produced. That led it to an estimate of 13.2 million plants grown in the state in 2015 (with 2.6 million destroyed), based on the high-end 20 percent figure.
It then assumed that each plant would produce one pound of pot at a market price of $1,765 a pound. Outdoor plans(sic) can produce much more than a pound, but indoor plants may only produce a few ounces, so the one-pound average figure is safely conservative.
The $1,765 per pound farm gate price is probably optimistic, though, especially for outdoor grown marijuana, which fetches a lower price than indoor, and especially for large producers moving multi-dozen or—hundred pound loads
And maybe law enforcement in California is damned good at sniffing out pot crops and seizes a higher proportion of the crop than the rule of thumb would suggest. Still, even if the cops seized 40 percent of the crop and farmers only got $1,000 a pound, the crop would still be valued at $8 billion and still be at the top of the farm revenue heap.
originally posted by: dashen
is your grass really blue?
and this is why weed is REALLY dangerous.
Anyone can get out of poverty and even get rich growing it.
and the TPTB cant have that now can they?
We are going from a selective policy administration, who would only raid highly successful dispensaries in legalized states, to an assumed stricter (AG pick) administration that may utilize the very tools California creates in regulating a plant for mass arrests.
originally posted by: jjkenobi
Why grow food or raise dairy animals when you can grow pot and be rich.
Except the country still needs the food....
Also, doesn't growing marijuana take a LOT of water? How's that going to work for drought plagued Cali?
originally posted by: avgguy
That's a lot of money, but nothing will help the California economy because of the ridiculous amounts of spending they do any their inability to pass a budget. It's poised to be the next Detroit
Generally, state officials and the media depict that “wall” as $26.2 billion, far smaller than it actually is. California's actual wall of debt is $443 billion. The state's complete and growing Wall of Debt reflects unsustainable budgeting practices.