Marijuana is the fifth most valuable growth in the U.S.

Written by on 20 May, 2022

Marijuana has gained more ground in the United States in recent years much, so it represents the fifth most valuable marijuana growing in the United States, according to a report prepared by Leafly Holdings, Inc. entitled “Cannabis Harvest Report.”

Marijuana for recreational purposes is legal in 18 states, and 37 states allow it from a medicinal standpoint; however, for the report, only 11 states in the country that have legal adult-use cannabis stores open and operating were evaluated.

“In those 11 adult-use states, cannabis maintains 13,042 licensed farms that harvested 2,278 metric tons of marijuana last year. That amount would fill 57 Olympic-sized swimming pools, or more than 11,000 dump trucks stretching 36 miles, and is returning $6,175,000,000,000 to U.S. farmers each year,” reviews report.

This activity earned more than 6 billion dollars, which “places cannabis as the fifth most valuable cultivation in the United States”, behind corn (61 billion dollars), soybean (46 billion dollars), hay (17.3 billion dollars), and wheat (9.3 billion dollars).

It should be mentioned that marijuana is above cotton ($4.7 billion), rice ($3.1 billion), and peanuts ($1.3 billion).

Also, the report exposes that in five of those states where recreational marijuana sales are legal, Alaska, Colorado, Massachusetts, Nevada, and Oregon, cannabis is precisely the most valuable growing.

“In each of the 11 states with adult-use retail stores in operation, cannabis ranks no lower than fifth terms of agricultural crop value, often within two years of the first stores opening. In Alaska, the cannabis harvest is worth more than twice as much as all other agricultural commodities combined,” the report’s authors wrote.

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