logo
  Join        Login             Stock Quote

Black market for California pot growers

Saturday, May 5, 2012 1:41 PM


ARCATA, Calif., May 5 (UPI) -- Marijuana growers in California say they are worried federal crackdowns and the closure of dispensaries will send the industry back into the black market.

The so-called Emerald Triangle -- a region in northern California known for its growth of legal marijuana -- is under pressure from an oversaturation of pot growers. With hundreds of legal dispensaries being shut down for alleged racketeering, many harvests can't be sold, The Sacramento Bee reported Saturday.

"Last I heard, a pound of marijuana is $800 for outdoor grown," said Mendocino County Sheriff Tom Allman in Ukiah. "That's plummeting. You might do better with tomatoes."

The price plummet has caused some growers to transport or ship marijuana out of the area for higher profits.

Last month, Pennsylvania police arrested a former Humboldt County, Calif., dispensary worker for allegedly shipping more than 25 pounds of marijuana, the Bee said. Nebraska police recently stopped a Mendocino County, Calif., couple who had 62 pounds of pot stuffed in duffel bags.

"People shouldn't have to sleep with one eye open," said Alison Sterling Nichols, executive director of the Emerald Growers Association. "People should be able to move from the black market into the light.

"We haven't been able to bridge that gap. We have hills of healthy outdoor product we can't take to the market."

(Source: UPI )
(Source: Quotemedia)

Advertisement
Advertisement
Advertisement
Related Press Releases
Popular Articles
Advertisement
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.