Posted on 08/27/2023 6:04:50 PM PDT by dennisw
Across the US, the legal weed industry is under pressure from a 'ganja glut' Prices have plunged even as dispensaries complain of high taxes and red tape Industry group warns pot business is 'on the verge of collapse' without reforms
Across the US, the legalized marijuana industry is buckling under the strain of plunging prices, patchwork state regulation, and burdensome taxes, analysts and industry groups say.
'All of these issues are chipping away at the health of the industry to the point where I would describe the industry as in crisis in the United States,' Beau Whitney, senior economist for the National Cannabis Industry Association, told DailyMail.com this week. 'This is unsustainable from an economic perspective.'
Currently, the recreational use of cannabis is legal in 23 states, and last year state-regulated medical and recreational pot sales topped $26 billion nationwide, according to Vangst.
But even while sales soar, dispensaries say eking out a profit is growing harder, as a glut of weed production pushes prices lower -- a boon for blissed-out pot consumers, but a bane for growers and retailers.
In California, dispensary chain MedMen, once dubbed the 'Apple store of weed,' teeters on the brink of financial ruin, while in New Jersey a trade group warns the industry is stagnating in a 'doom loop' due to licensing delays.
'Sadly, the legal cannabis markets demanded by countless Americans are on the verge of collapse if common sense, practical reforms are not enacted urgently,' the National Cannabis Industry Association (NCIA) warned in a report this month.
(Excerpt) Read more at dailymail.co.uk ...
If you think there’s a war on drugs now, just wait until the government gets a skin in the game.
What’s interest regarding that map, many of the Midwest and southern cities have some of the highest crime rates...There was recently an article about that.
My theory, maybe not so much a theory now, is that if you want to destroy ANY industry, put the government in charge.
If the US Gov were in charge of sex, we’d have no more STDs because they would make sex tedious, boring, and expensive. lol
Not legal anywhere in the USA.. darn pesky federal laws.
In February, the Oregon Liquor and Cannabis Commission reported marijuana businesses were sitting on about 3 million pounds of unused cannabis, as well as 75,000 pounds of concentrates and extracts.
https://www.dailymail.co.uk/news/article-12437955/recreational-weed-industry-economics-profit.html
oh so they would put my ex in charge?
A drugged nation isn’t a nation that should prosper. It’s a failed nation.
They took my Creedence tape man…
When it doesnt feed your inner desire for rebelliin, it just isnt as much fun.
Legalizing recreational marijuana was never about tax revenue; it was about enabling the illicit marijuana market to thrive.
Very few banks even want to deal with marijuana dispensaries in states where weed has been legalized. The biggest problem is that marijuana is still a narcotic under Federal law, so banks run the risk of getting prosecuted for aiding and abetting a criminal enterprise.
Imagine running a business where you can’t process credit card transactions, and where you have to pay most of your expenses in cash.
I don’t know if it’s true, but a young guy I was talking to said even weed and consumables were tainted by fentanyl sometimes.
Does that sound right?
The leftists pushed and pushed for this crap. First it was medicinal. Now probably 20% of homeless are psychotic because of marijuana.
The leftists pushed and pushed for this crap. First it was medicinal. Now probably 20% of homeless are psychotic because of marijuana.
Gee, what a surprise.
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