Michigan Contemplates a License Moratorium to Help Stabilize Cannabis Market
The Michigan Cannabis Regulatory Agency (CRA) held a meeting on September 14, 2022, to three questions regarding a potential license moratorium and whether “excess grow licenses” should be done away with, as covered by MLive.com. Each excess license allows adult use growers an additional 2,000 plants on top of the maximum 10,000 plants allowed under
Cannabis Taxes in Alaska Show Declining Flower Sales, While Tax Evasion Becomes an Issue
The Alaska Department of Revenue (ADOR) recently issued July 2022 tax collections from the wholesale side of the state’s cannabis market. July 2022 saw 1,508 pounds of flower change hands, down 3% from 1,556 pounds in June 2022 and down 16.5% from 1,806 pounds in July 2021. Alaska’s cannabis cultivators are taxed at a flat
How Will the Fall Harvest Impact Colorado Cannabis Prices?
Cannabis Benchmarks spoke with Van McConnon to get a feel for the Colorado cannabis market, where he has been a grower and a consultant in the industry for decades. McConnon has seen some ups and downs as a market participant, consultant to cannabis firms, and observer. Charts can reveal the technical reason for a sell-off
Massachusetts Retail Cannabis Sales Climb While Consumers Benefit from Lower Prices
The Massachusetts Cannabis Control Commission (CCC) recently issued data for July 2022 adult use sales on the state’s Open Data Platform. July adult use retail sales set a new high for 2022 at $132.5 million, up 8.2% from June 2022 sales of $122.6 million (upwardly revised), but down 8.8% from July 2021 sales of $145.4
Has the Michigan Wholesale Cannabis Market Begun to Stabilize?
The Michigan Cannabis Regulatory Agency (CRA) reported July 2022 data recently, detailing sales, licensing, and production in the state’s adult use and medical cannabis markets. Combined adult use and medical sales were $209.9 million, up 12% from June 2022 combined sales of $187.4 million and up 22.7% from July 2021 combined sales of $171 million.
Oklahoma Cannabis Tax Collection Continues to Decline
The Oklahoma Medical Marijuana Authority (OMMA) published July 2022 tax collections, allowing Cannabis Benchmarks to extrapolate sales made in June 2022 in the state’s medical cannabis program. June 2022 sales, at $60.1 million, were down 11.2% from May 2022 sales of $67.7 million and down 25% from June 2021 sales of $80.1 million. The average
How is the New Jersey Adult Use Marijuana Market Faring?
New Jersey sent out updated information for the state’s medical cannabis market; there are 125,674 patients in the program, along with 5,038 caregivers and 1,461 doctors certified to recommend medical cannabis. To get a better idea of what is going on in the adult use market, which opened in April 2022, Cannabis Benchmarks spoke with
Will Oregon Cannabis License Sales Be Coming Under More Scrutiny?
The Oregon Liquor and Cannabis Commission (OLCC) issued a press release regarding the sale of cannabis businesses last week. According to the statement, the OLCC is looking to take steps to limit the ability of some cannabis business owners to “monetize” their licenses. The Commission is interested specifically in targeting cannabis businesses trying to sell
Oklahoma Officials Crack Down on Illegal Marijuana Licensing Schemes
The Oklahoma Medical Marijuana Authority (OMMA) has reduced the number of cultivator licenses by 21.8% since December 2021 as OMMA cracks down on improper licensing, including those licenses that failed to fill out a foreign ownership attestation. The number of licenses is again dropping, with the state’s Attorney General charging two Tulsa lawyers with a
Eradicating California’s cultivation tax has raised some hopes in Humboldt County, but growers will reap only partial benefits according to Jesse Duncan, Humboldt native, commercial cannabis farmer, and consultant to cannabis businesses. He said he does not see an “immediate windfall for growers;” instead, “the middlemen will get the most benefit” from the tax cut.