Marijuana produced in the U.S. has a market value of $35 billion per year—far higher than that of corn, soybeans or hay, the top three legal cash crops, according to a report by a marijuana public policy analyst. California produces more than a third of the total.
SACRAMENTO—For years, activists in the marijuana legalization movement have claimed that cannabis is America’s biggest cash crop. Now they’re citing government statistics to prove it.
A report released [Monday] 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.