Wholesale Market Observer
Information Impacting Global Cannabis Markets
Illinois Finally Issues Long Overdue Cannabis Licenses
Governor J.B Pritzker’s office announced the issuance of 200 new licenses for craft growers, product manufacturers, and distributors that were originally to be issued last year, according to Capitol News Illinois. The report stated that 67% of the new licenses will go to people of color, helping fulfill part of the social equity program first
Retail Cannabis Sales Cool Off in Major Markets
Data released last week by officials in Colorado and Michigan tell a similar story to recent data out of Oregon: Specifically, that the late spring and early summer have seen demand in legal cannabis markets largely plateau or even decline slightly, albeit at levels elevated significantly compared to prior to the COVID-19 pandemic’s arrival in
Oklahoma Cannabis Market Continues Operating with Little Oversight
A July 1 email from the Oklahoma Medical Marijuana Authority (OMMA) informed stakeholders of the following: “New emergency rules impacting OMMA licensees have been signed by the Governor and became effective June 28, 2021. The new emergency rules address changes and/or new requirements in recently passed legislation and also add new requirements relating to the
How Record Heat Impacts Pacific Northwest Cannabis Markets
The Heat Dome over the northwestern United States may affect cannabis prices throughout the growing season, with heat damaging plants planned for mid-summer light-deprivation harvests, scrambling the planting and early development of full-term crops, and sparking the early onset of wildfires. Cultivators are adapting by shading outdoor and greenhouse operations to protect plants, avoiding planting
Retail Cannabis Sales in Arizona Continue to Rise
Arizona officials have released preliminary sales revenue data for April, for both the state’s adult-use and medical cannabis markets. According to Arizona Republic reporter Ryan Randazzo, April’s adult-use sales reached $69.3 million, up 41.7% from March’s $48.9 million in sales to recreational consumers. However, previous reports cautioned that the state Department of Revenue (ADOR) has
Colorado Retail Cannabis Sales Remain Steady Heading into Summer
The Colorado Department of Revenue (CDOR) recently released its monthly Marijuana Sales Report for April 2021. Demand remained strong; although April’s sales represented a slight downturn from March, such behavior is not atypical, and the decline reported for April 2021 is much smaller than that observed in prior years. In April, combined retail sales of
Oregon Cannabis Retail Sales Decline in May
The Oregon Liquor Control Commission (OLCC) recently released sales data for May 2021. According to OLCC, licensed retailers generated over $105.6 million in revenue last month, down by 4.7% from over $110.8 million tallied in April. May 2021’s sales are up by 2.1% year-over-year, from over $103.4 million in the same month in 2020. The
Retail Cannabis Licensing in Los Angeles Slowly Expanding
We have followed the process of licensing new cannabis retailers in Los Angeles since September 2019, when the city’s Department of Cannabis Regulation (DCR) initially accepted applications for the business licenses. Late last week, Marijuana Business Daily reported that three retailers had gained temporary approvals allowing them to open their storefronts for business. As we
Cannabis Legalization Update – Montana, Alabama, & Mississippi
Montana Montana, one of the states where citizens approved a ballot initiative to legalize cannabis for adult-use in the November 2020 election, now has a definitive start date for legal sales under enabling legislation signed into law recently by Governor Greg Gianforte. According to the Daily Montanan, Gianforte signed House Bill 701 into law on
Cannabis Cultivation in Alaska Increases After February Decline
The Alaska Department of Revenue (ADR) recently posted information on tax collections from the wholesale side of the state’s adult-use cannabis industry for March 2021. The tax collection figures from ADR state that licensed growers paid a total of $2,458,045 in tax to the state in March. Receipts from the levy on cultivators increased by