HomeMarket NewsMicro Cap StocksSurprising Insights: Comparing Cannabis Cultivation in the US to Other Major Crops

Surprising Insights: Comparing Cannabis Cultivation in the US to Other Major Crops

Actionable Trade Ideas

always free

cannabis farm

The annual Cannabis Harvest Report by Leafly Holdings, Inc. highlights the unrecognized value of cannabis as a crop in certain states, despite the lack of official tracking by the federal government and some state and local governments.

Leafly’s investigative team analyzed licensing reports, crop production data, sales figures, and tax information from 15 states with functioning cannabis markets over a three-month period.

The report also sheds light on the challenges faced by US cannabis farmers due to federal prohibition. However, recent recommendations from the Department of Health and Human Services to reclassify marijuana as a Schedule III drug under the Controlled Substances Act may lead to significant changes.

Over the years, cannabis farmers have struggled with limited access to banking services, crop insurance, and even personal loans, highlighting the systemic discrimination they face from both local and federal governments.

According to David Downs, the lead author of the report and Leafly’s California bureau chief, the lack of federal cannabis policy and ongoing prohibition disproportionately affects smaller farmers. The report aims to expose this issue and pave the way for an equitable industry.

Key Findings from the 2022 Leafly Cannabis Harvest Report

  • In 2022, legal adult-use cannabis farmers in the US grew approximately 2,834 metric tons of cannabis, equivalent to the volume of 36 miles of parked dump trucks.
  • Over 13,297 American farms in 15 states with legal adult-use and medical cannabis markets now rely on cannabis cultivation.
  • The highest cannabis prices are found in Alaska, Illinois, Maine, Massachusetts, and Nevada.
  • Alaska, Massachusetts, and New Jersey have established marijuana as the top cash crop, although production totals are not published in two of these states.

For more detailed information, refer to the provided chart.

Join us at the upcoming Benzinga Cannabis Capital Conference in Chicago on September 27 and 28 to delve deeper into these fascinating insights. Leafly’s chief commercial officer, Carlos Pinto, will be in attendance to discuss the report further. Visit bzcannabis.com for all the event details.

Photo of cannabis farm by Richard T on Unsplash

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.