«Industry expert and consultant Farrell Miller notes that the majority of this discarded product was destroyed for being too old and having too little THC. “There is no demand for old and low-THC products, so manufacturers of finished products are not buying this biomass as inputs,” she said. “It’s likely low-quality material with no value. “As consumers become more savvy with packaging dates on dried cannabis products, this trend will only continue.”»
The size of the market was vastly overestimated. Every pothead wanted a slice of the business, so they all started up companies thinking there was unlimited growth potential. It was rapidly saturated and now we’re in the collapse and consolidation phase, exacerbated by the higher interest rates and inflation.
Canada’s population is similar to California, but it’s producing weed enough for a country several times its size.
Plus the black market still exists, albeit in a small scope, due to price, quality, variety, or loyalty reasons.
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