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Home 🌿 Marijuana Business News 🌿 Marijuana Legalization in US Cuts Mexican Pot Profits by 70 Percent 🌿Marijuana Legalization in US Cuts Mexican Pot Profits by 70 Percent
As marijuana legalization in states like Colorado and Washington continues, marijuana farmers in Mexico are starting to see a steep decline in the profits their crops once fetched. Some growers report they’re seeing a decline in income as high as 70 percent, and they blame the popularity of higher quality legal marijuana in the U.S.
According to Fox News Latino, in the Mexican state of Sinaloa, one of the country’s biggest marijuana production areas, growers have reported that they have seen the price of their product drop from $100 per kilogram to $30 in the last four years. Juan Guerra, Sinaloa’s agriculture secretary, told the Los Angeles Times, “People don’t want to abandon their illicit crops, but more and more they are realizing that it is no longer good business.”
Mexican drug cartels rely heavily on growers of both marijuana plants and opium poppies to supply them...
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