Weed Rich: The Real Size of U.S. Marijuana Industry
Weed is the most profitable crop for America to invest in. The future of agriculture in America lies in the legalization of marijuana. It is one of the most profitable cash crops in the world, that offers a low startup cost to farmers, and has a steady rate of active consumers.
Weed is the most profitable cash crop
Greens, weed, marijuana, is a cash crop. It is 851 times more valuable than wheat when you compare square footage value, and has about 25% more valuable than coca plants used in the production of cocaine. That means that in order to make the same amount of money for one tax free crop of marijuana, you would have to grow 851 fields of wheat. Even if taxes where set at 85%, and farmers decided to swallow the cost, they would still be making money hand over fist when switching over from wheat. It could be a bigger industry than the NFL in the next 5 years.
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Save the Environment and Economy
The largest cost of doing business currently is not the legal ramifications, but the indoor growing costs that are used to avoid legal ramifications. An estimated 22 million pounds are grown domestically, an estimated 35.8 billion dollar value, 80 percent of which comes from California, Tennessee, Kentucky, Hawaii, and Washington. The value of domestically grown marijuana is enough to buy every American a grinder, some wrappers, and a month’s worth of pizza. By legalizing marijuana, outdoor grow sites could play a part in helping the environment. The electricity that indoor growing costs America is enough electricity to power 1.7 million homes. By growing it outdoors, you can reduce the cost of grow lights, propane tanks, and electricity. Encouraging farmers to grow would help the farmers and the environment, hand in hand, it also means that the 13 billion dollars that California grows illegally, an industry larger than the entire GDP of Tonga, Belize, and the Bahamas combined.
Already doing it
Americans already grow tons of weed. Switching to a high utility crop like hemp would be too dramatic for the American farmer to bear, besides that, the world-wide hemp trade is worth less than the import of knit or crocheted clothing from Thailand. By reducing the costs of doing business illegally, America could cash in on a big untaxed part of agriculture, California collected over 100 million off medical dispensaries alone.
People are already growing weed at a shocking rate, and people are buying. it. By selling marijuana you are supporting one of America’s largest industries, and by refusing to legalize it you are shutting down any safety or quality control that America could utilize by taxing it.