Wholesale Market Observer
Information Impacting Global Cannabis Markets
Connecticut Adult Use Cannabis Sales to Start in Late 2022
Kaitlyn Krasselt, Communications Director for the Connecticut Department of Consumer Protection (DCP) - the agency overseeing adult use cannabis licensing in the state - confirmed to Cannabis Benchmarks that the state is likely to commence adult use cannabis sales late this year. Connecticut’s medical cannabis program has four licensed producers, which are all Multi-State Operators
Illinois Cannabis Market Continues to Benefit from Customers Across State Lines
The Illinois Department of Financial and Professional Regulation (IDFPR) issued adult use sales data for April 2022 this week. Combined sales to in-state and out-of-state residents at $131.8 million were up by just 0.6% month-on-month versus combined sales in March 2022 of $130.9 million. Year-on-year, April 2022 sales were up 14.6% from April 2021’s combined
Will the Oregon Moratorium on Cannabis Business Licenses Really Work?
The Oregon Liquor & Cannabis Commission (OLCC) announced last week that it is formally implementing a moratorium on issuing new cannabis business licenses “to applicants who submitted an application after January 1, 2022.” The moratorium was enabled by legislation passed last year, which we covered at the time; it applies to all license types and
Arizona Recreational Marijuana Sales Chipping Away at Medical Market
The Arizona Department of Revenue (ADOR) published cannabis tax collections and estimated sales information for February 2022, when combined adult use and medical sales were $121.2 million, down 2% from an upwardly revised $123.7 million in January 2022. Year-on-year, the first full year of adult use sales shows an increase of 27.8% in total sales,
Cannabis Licensing Process in Massachusetts to Ensure Social Equity
Massachusetts adult use sales data for March 2022 was recently posted on the state’s Open Data Platform. March 2022 adult use retail sales, at $120 million, were up 9.4% from a downwardly revised $110 million (previously $117.9 million) in February 2022 and up 12.8% from March 2021. Average daily sales in March 2022 were a
Recreational Marijuana Sales in New Mexico Off to Strong Start
New Mexico adult use sales are off to a fast start, with $5.2 million in combined adult use and medical sales in the first three days of the new recreational market being open. Adult use sales topped $3.52 million on opening weekend with the adult use share of total sales at 67.5%. Total weekend transactions
Changes on the Horizon for Oklahoma Cannabis Licensees
The Oklahoma legislature is considering no less than 31 bills directly affecting the medical cannabis market in the state. Cannabis businesses may be in for higher expenses if some of the slate of proposed bills are passed by the legislature. House Bill 2179 would increase licensing fees for growers based on canopy square footage and
California Legislation Pushing for Cannabis to Cross State Lines
California has recently proposed a set of bills to address issues arising from federal cannabis prohibition, with one measure appearing to be an explicit challenge to the U.S. government’s current stance of simultaneous toleration for state-legal cannabis regimes and refusal to legalize nationally. Two of the bills under consideration are: AB 2568, which would provide
What are Lawmakers in Oregon Doing to Aid the Cannabis Industry?
Oregon perhaps exemplifies the cannabis price crash better than other states, in that policymakers have stepped in on multiple occasions in what was understood to be efforts to “fix” the oversupply problem with two license moratoriums. The second moratorium was instituted this month and will stay most new licenses for growers and retailers until March
Price Erosion Expanding to Younger Cannabis Markets
Repercussions of cannabis oversupply are ricocheting around the industry as cannabis prices remain under pressure across much of the country. Publicly listed companies have been on a buying binge that has resulted in lower stock prices, cancellation of planned takeovers, and even scaled back production. Ascend Wellness stock has lost over 67% of its value