Is California facing a marijuana oversupply this year? A report from Vessel Logistics, a San Francisco-based cannabis distribution company, says it’s unavoidable. The report says the current number of farms with state permits can produce up to nine-million pounds of product every year, while the permitted wholesale market can realistically support no more than about two-million pounds. But the executive director of the Nevada County Cannabis Alliance, Diana Gamzon, says there are not nearly the number of farms in cultivation that the company is reporting…

Gamzon says there are also thousands of growers with temporary permits that are coming up for expiration…

Gamzon says the Legislature has yet to pass a law to push back the deadline for an extension application. But the report concludes that because the cannabis industry in California has over-relied on both the black market and out-of-state sales, producers and manufacturers have over-estimated the actual wholesale demand in the state.