With marijuana price down 70%, Colombia growers are bailing
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