Marijuana Is the Sixth Biggest Cash Crop in the U.S.

According to the Leafly Cannabis Harvest Report 2022, marijuana was the sixth most valuable wholesale crop in the United States last year at a $5 billion worth, trailing only corn, soybeans, hay, wheat and cotton. The calculation includes only crops in states where state-sanctioned sales of legal weed are already up and running and exclude production in medical marijuana-only states.

The report finds that 2022 saw a cannabis harvest of 2,834 metric tons, up 24 percent from 2021. While the count of states having legalized marijuana stands at 23, only 15 had at the time of the release of the report come as far as opening state-licensed retail stores, mainly due to a flurry of legalization since 2021 affecting nine states. The 15 states where dispensaries are open are tied to more than 13,000 active and legal cannabis farms, according to Leafly.

California had the biggest share in the harvest, producing marijuana at a wholesale value of $1 billion, followed by Colorado at $687 million, Michigan at $551 million and Oregon at $500 million. At wholesale crop values of between $124 million and $362 million, marijuana was also the number one cash crop in New Jersey, Alaska and Massachusetts.

In its report, Leafly criticized that despite its prominent role, marijuana crops are not included in statistics by the USDA and are not generally considered agricultural products, which leads to marijuana farmers paying higher taxes, being ineligible for disaster relief and often have trouble finding adequate financial services.