The price of marijuana could soon be seeing a price hike, as much as 20%, due to the aftermath of the wildfires in California.
The fires have dramatically impacted the state’s marijuana industry with dozens of farms burning and many engulfed in smoke.
The fires, which have been ravaging through Napa County, Sonoma County, and six others, have led to practically a year’s supply of marijuana being wiped out for many industry growers.
The fires have resulted in the destruction of 5,700 structures and over 200,000 acres of land being burnt over.
A number of marijuana farms in Sonoma County and Mendocino County, which is known as the Emerald Triangle, or the marijuana capital of the U.S., have burned and the number is expected to grow even larger.
According to Forbes, the fires came at the worst time as farmers were only starting to cut their plants.
Nick DiNicola, whose company, DiNicola Insurance Services, brokers insurance for companies in the cannabis space has said, “A lot of the farms weren’t destroyed but may not be able to sell their product because of all the pollution that came down from the fires.”
