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The World’s Biggest Cash Crop: Cannabis

The World’s Biggest Cash Crop: Cannabis

Recently, Information Is Beautiful went digging for information regarding the world’s most lucrative cash crops. Most people know that marijuana is gaining stake in the US economy and there is little chance that things will change any time soon.

Domestic marijuana prices may actually be on the decline as domestic production ramps up, but the cost of a high-quality ounce of weed is still over $300 per ounce. Concentrates are often priced at over $60 per gram which would make them more valuable per ounce than gold. This graph shows how the extremely profitable cannabis plant compares other common crops in the amount of revenue they can generate per square kilometer.

Most Lucrative Crops Per km

Colorado was the first state in the US to legalize recreational consumption of cannabis. We’re just starting to get the full picture of how much impact the plant can have on state tax revenues and other states are opening up shop. This graphic illustrates how cannabis stacks up next to other heavily taxed commodities in the state of Colorado.

Colorado State Tax Income By Source

Around Whaxy

Marijuana Sales Decreased in Colorado From August to September

Marijuana Sales Decreased in Colorado From August to September

This month, the Colorado Department of Revenue released the marijuana sales report for the month of September. As the Denver Post reported, this is the first time that pot sales decreased in the state, and the decrease was seen in both recreational and medical sales.

Mike Elliot, executive director of The Marijuana Industry Group told the Denver Post that this decrease in sales may be because the months between summer and winter in Colorado usually attract fewer tourists. People from all over the world travel to Colorado during the summer months to trek through some of the best hiking trails the nation has to offer. During the pristine winter months, travelers return to Colorado to experience the thrills of the slopes. The months in between see a decrease in tourist attention, so that may have something to do with the drop in sales. Elliot also mentioned that because the tourism upswing is just beginning, there may not be another noticeable increase until the November numbers are released.

Numbers released by the Colorado Department of Revenue show that recreational dispensaries sold $31,626,965 in September. Reported sales in August were $34,125,200, so recreational marijuana sales dropped by almost $2.5 million in one month. Sales had increased every month this year, so far. The increase from July to August was just over $4.8 million.

This drop in sales may mean a decline in business for dispensaries, but tax revenue collection is still booming. Reportedly, the state of Colorado has collected over $52.4 million this year once all taxes, licenses and fees for all marijuana sales are totaled.

photo credit: popularresistence

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