Illegal Marijuana Farmers in Mexico Suffer From US Legalization

CNBC cites data from the financial information group Sageworks and reports that the accounting sector could claim a 2014 growth of 11 percent, while computer systems went up 14 percent points, and the real estate industry increased its rate by a full 23 percent.

All of these well-regarded economic staples were beat out by the relatively new industry of legalized marijuana, however. At one point pot was across the board illegal, and the possession of it could put a first-time offender in jail for anywhere from 93 days to up to a year. Now, in some states where it has become legal, the selling of pot has become a bona fide way for some to make big bucks. The cannabis industry, according to a new report by The ArcView Group, a cannabis industry investment and research firm based in California, has jumped up 74 percent in 2014, reaching its new high of $2.7 billion.

Plus, in November Alaska, Oregon, and Washington, DC, voted to join the legal marijuana crowd. This increase in potential cannabis customers is sure to set up a continuing market growth for the young industry for several more years to come.

This is wreaking havoc on the illegal pot growers who function south of the Rio Grande. For decades Mexican marijuana growers have provided the bulk of cannabis for American smokers.

The legal pot is definitely affecting Mexican marijuana production. Last year the U.S. Border Patrol noticed a drop in seizures of pot heading up north. The agents gathered 1.9 million pounds of marijuana; this was a 24 percent reduction compared to the 2.5 million seized in 2011, a time prior to Colorado and Washington State’s legalization of recreational marijuana.

Source: Latin Post

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