With marijuana price down 70%, Colombia growers are bailing

The price of a pound of the potent “creepy” strain of marijuana grown in Cauca has plunged to $15 from $50 per pound
13 July 2015
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On a farm in the central Andean mountains of Colombia, workers are digging up marijuana bushes and replacing them with avocados.

They’ll get no subsidies from a government crop substitution program since the state barely exists in these remote mountains in Cauca province. They’re responding instead to a 70 percent crash in prices over the last year after farmers here planted so much marijuana that they saturated the market. “It’s barely profitable anymore because everyone’s growing it,” said a farmer, who asked not to be named. “I’m getting out of it.”

Bloomberg News (US)
Tuesday, July 14, 2015