NewsCovering Colorado

Actions

Colorado pot grower advances sales despite $7M loss in storm

Default-Image_1280x720.png
Posted at 4:13 PM, Dec 11, 2019
and last updated 2019-12-11 18:13:54-05

DENVER — A Colorado marijuana grower has estimated it lost about $7 million in an early wintry storm but still expects to harvest more than last year for the extraction market.

Pueblo-based Los Suenos Farms lost about 20,000 plants because of subfreezing temperatures and several inches of snow in October, Marijuana Business Daily reports.

The Colorado market was concerned because retailers and processors would have likely faced higher wholesale cannabis prices for extraction if the farm lost its entire crop, officials said.

Before the farm was hit with the storm, the company was able to save about 12,000 pounds (5,440 kilograms) of bud in good quality putting company sales ahead by about 30% compared to last year, owner Bob DeGabrielle said.

The last two months have been the best two months in our history in terms of sales volume despite the storm or growing national concerns over vaping, he said.

Processors in the state should anticipate a steady supply of better quality high-potent flower than the usual trim material that would be available had the storm not come early and damaged the plant, DeGabrielle said.

Los Suenos is the largest cannabis farm in North America with 36 acres in outdoor production and an indoor cultivation operation, he said.