Cannabis becomes the sixth-largest cash crop in the United States

According to the Leafly "2022 Cannabis Harvest Report," in 2022, cannabis became the sixth most valuable wholesale crop in the United States, with a value of $5 billion, ranking only behind corn, soybeans, hay, wheat, and cotton. This calculation includes only those states where cannabis has been legalized for recreational use and does not include states that allow only medical cannabis.

The report found that the cannabis production in 2022 was 2,834 metric tons, representing a 24% increase from the previous year. Although there are 23 states where cannabis is legal, at the time of the report, only 15 states had licensed retail stores, primarily due to the wave of legalization that occurred in the nine states since 2021. According to Leafly, in these 15 states with open cannabis retail shops, there are more than 13,000 active legal cannabis farms.

California had the largest cannabis production, with a wholesale value of $1 billion, followed by Colorado at $687 million, Michigan at $551 million, and Oregon at $500 million. Wholesale cannabis values ranged from $124 million to $362 million and became the top cash crop in New Jersey, Alaska, and Massachusetts.