Portland, Oregon–one of the longest running legal recreational cannabis markets in the U.S.–is seeing a significant dip in demand.
According to Willamette Week, cannabis flower is currently retailing for $4.29 per gram, the lowest it’s been since April 2019.
The publication said the drop in price is due in part to a surplus of cannabis in the market.
But the problem also stems from Portland consumers spending less. In June, cannabis sales totaled $11.5 million, compared to $21 million two years prior.
“No one’s selling anything, which means no one’s buying anything,” one Portland cannabis shop owner told the publication.
Other mature recreational markets like California have seen similar declines in demand this year.
Oregon became the fourth U.S. state to legalize recreational cannabis when its laws went into effect in 2015.
