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

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.

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

Officials say 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.

Company owner Bob DeGabrielle says up to 12,000 pounds of bud were good quality before we got hit with the storm putting company sales ahead by about 30% compared to last year.