Pot is called biggest cash crop — probably because it is:
A report released today by a marijuana public policy analyst contends that the market value of pot produced in the U.S. exceeds $35 billion — far more than the crop value of such heartland staples as corn, soybeans and hay, which are the top three legal cash crops.California is responsible for more than a third of the cannabis harvest, with an estimated production of $13.8 billion that exceeds the value of the state’s grapes, vegetables and hay combined — and marijuana is the top cash crop in a dozen states, the report states.
The report estimates that marijuana production has increased tenfold in the past quarter century despite an exhaustive anti-drug effort by law enforcement.
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Using data on the number of pounds eradicated by police around the U.S., Gettman produced estimates of the likely size and value of the cannabis crop in each state. His methodology used what he described as a conservative value of about $1,600 a pound compared to the $2,000- to $4,000-a-pound street value often cited by law enforcement agencies after busts.