I subscribe to a weekly email newsletter from Green Flower Media, called “Weekly Canna”. If you are not familiar with this newsletter, it is an informative, easy-to-read, and fast-paced newsletter that contains many of the latest information on the marijuana industry. This week’s newsletter focused on the industry’s current supply situation. They wrote: “We are beginning to see a lot of questions about current supply trends. The short answer is that there are a lot of distributors who have been forced to close up shop, and the ones that are still ‘rolling’ are frantically trying to keep up with demand from their customers.
The cannabis industry is booming, and there is a lot of money to be made. While some companies are making buckets of it, however, there is also a lot of competition. Some of the biggest names in the industry are investing heavily in the country, while others are doing it for the love of the plant. Over the years, many cannabis startups have been forced to close up shop, leaving behind a trail of questions and uncertainty. In this article, we are going to look at the potential future of cannabis production in Canada, from a business perspective.
As far as I know, there is no such thing as a “weekly cannabidiol (CBD)”. Just because something is used for medicinal purposes, doesn’t mean it can be used by those with no medical issue. However, there is something to be said about the effects of CBD on the body, and how it may be used. CBD is a cannabinoid that is a chemical compound that is found in the cannabis plant, or marijuana. It is made from the marijuana plant, or cannabis resin, and is used for medicinal purposes. It is non-psychoactive, which means it does not give a “high” feeling, and is not an illegal substance. It is also non-add. Read more about did legalizing pot help colorado and let us know what you think.
The person in charge of establishing rules for the state’s adult-use cannabis sector warned legislators last week that the state would most likely run out of marijuana goods during the first week of sales.
Superintendent Linda Trujillo of the New Mexico Regulation and Licensing Department (RLD) spoke before the Economic Development and Policy Committee last week, expressing concerns about the amount of product that will be available to consumers when the adult-use marijuana market opens in April at the earliest.
Trujillo told legislators, “It’s very probable we’ll run out of cannabis in the first week, if not the first two weeks.”
Trujillo’s forecast was based on statistics from states that have previously authorized recreational marijuana sales. To satisfy customer demand, the superintendent estimates that the state will require approximately 500,000 mature plants processed and ready to sell when the market opens. She also said that the failure rate for developing plants may be as high as 18%, implying that the required number of mature plants would be much greater.
Trujillo predicted that the state’s cannabis sector will suffer from the “Krispy Kreme syndrome.” Customers allegedly queue up for hours to obtain a taste of Krispy Kreme’s renowned doughnuts when a new store opens in a new area, causing an initial surge in demand that fades over time. New Mexico, according to Trujillo, has to prepare for a comparable surge in early cannabis sales.
The superintendent also addressed financial issues for small companies looking to enter into the sector, noting that state law does not allow the RLD to give smaller or local businesses precedence when it comes to licensing.
She told legislators, “Access to capital is virtually non-existent.” “My concern is that people who want to work in this sector would take drastic steps like cashing out their retirement accounts, taking out second mortgages on their houses, or withdrawing their family’s life savings.”
On Aug. 6, the RLD will conduct another public hearing on adult-use cannabis regulatory regulations.
Weed Laws are a Challenge for Municipalities
More communities are contemplating restrictive rules as the deadline for towns to decide on cannabis zoning and laws approaches.
The municipal council in Portales is considering an act that would make it illegal to smoke tobacco or marijuana in most public areas. According to The Eastern New Mexico News, the law would prohibit smoking tobacco or cannabis on any property within 300 feet of a school or daycare, as well as on any municipal property, including public transit, in Portales.
Tobacco and marijuana users would be allowed to smoke in private residences if the law is passed, unless the facility is utilized professionally to offer child care, adult care, or healthcare. Smoking would be permitted at retail tobacco and cannabis shops, as well as cigar bars and cannabis consumption spaces, if they are housed in a separate structure. In cannabis manufacturing facilities, smoking will also be allowed.
Municipalities have until September 1 to adopt ordinances and zoning rules that vary from the Cannabis Regulation Act, according to state legislation. The legislation does not provide municipal officials the power to ban all cannabis sales in their territory, but it does give them the power to establish local regulations governing marijuana shop hours, tax money, whether or not to include use zones, and other limitations.
Following a heated discussion over where cannabis businesses would be permitted to establish shops in the city, Albuquerque agreed on cannabis zoning regulations in June. Following public uproar, a planned set of regulations that would have pushed marijuana businesses off of the major roadways was eventually rejected.
Albuquerque, on the other hand, was far ahead of the game. The two other biggest cities in New Mexico have yet to make a decision on cannabis zoning. Last month, the Las Cruces City Council started debating marijuana laws, conducting an interactive town hall and hearing from local experts. Last week, Santa Fe officials hosted a meeting to enable people to voice their opinions on the city’s zoning rules. Leaders are proposing, like in many other cities and counties, to increase the necessary distance between dispensaries and schools and daycares, as well as the addition of public consumption places for cannabis users.
The state has ordered that shops stop “gifting” marijuana.
After the state’s Cannabis Control Division (CCD) issued a cease-and-desist order because the store was “gifting” cannabis to clients, a Las Cruces company has reopened.
The order was issued on July 27 after a CCD investigation on July 20 into allegations that Speak Easy NM, a “organics business and gift store,” was providing clients tiny quantities of marijuana with their purchases. According to the Albuquerque Journal, the ruling required the shop to stop giving out cannabis but did not impose any further sanctions.
Marijuana is not only lawful to possess under the new Cannabis Regulation Act, but it is also allowed to “gift” marijuana to others as long as no money is exchanged. Speak Easy NM was violating the law, according to the CCD, by giving marijuana with purchases.
Following the order, the business shuttered its doors, and its attorney, Matt Madrid, informed reporters that the company was weighing its legal options. Madrid declared last week that the shop will reopen in full conformity with the CCD decision.
In a news statement, Madrid said, “The activity often known to as ‘gifting’ will not occur on our premises; nevertheless, we are still able to help the community with CBD goods and items.”
In a statement, RLD Deputy Superintendent John Blair stated, “The Cannabis Control Division will not tolerate any people or companies that violate the Cannabis Regulation Act or otherwise undermine the integrity of the adult-use cannabis sector in New Mexico.” “All New Mexicans should be aware that breaches of the Cannabis Regulation Act will result in the state taking quick and harsh action.”
Once pot is legal, does it ever run out? I know that the new world of cannabis has a lot of new users and is becoming more mainstream. That’s great, but many of these new users may not have enough information about how to operate a cannabis production system.. Read more about colorado legalization date and let us know what you think.
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