CannabisNews420.com – Cannabis/Marijuana Industry News
The way things are going in CA as the state lurches from one cannabis disaster to another maybe they should just outsource to this outfit.
They’d probably have better planning skills !
CALIFORNIA MARIJUANA GROWERS ARE PRODUCING SO MUCH WEED THEY COULD CRASH THE MARKET: REPORT
California marijuana growers could produce so much weed that they crash the market, The Sacramento Bee reported.
The outlet said Tuesday that 1,142 acres of cannabis farms hold permits in the state, citing a report by distribution company Vessel Logistics. This means that licensed farms can harvest 9 million pounds of marijuana. But the report said the existing market could accommodate only 1.8 to 2.2 million pounds.
Armando Gudiño, the California Policy Manager at the Drug Policy Alliance’s Los Angeles office, described the mismatch in supply and demand as growing pains from a difficult rollout of recreational legalization, which was approved by voters in 2016.
He noted that three different state agencies have a role in regulation efforts. While the Bureau of Cannabis oversees commercial licenses, CalCannabis Cultivation Licensing monitors the state’s track-and-trace system and issues licenses to cultivators, according to the state website. Manufactured Cannabis Safety Branch watches over commercial manufacturing and makes sure manufacturers adhere to cleanliness and labeling guidelines.
Gudiño noted cities had struggled to agree on the regulatory framework, but said there is potential for California to bloom into a vast market.
“The overwhelming majority of the state has not developed responsible regulations that will allow the market to regulate itself. As a result you have a small percentage of the state providing regulated cannabis to a state that overwhelmingly supported legalization,” Gudiño told Newsweek. “California is poised to be the largest marijuana market in the country, in the world.”
The report from Vessel Logistics, however, said that the state’s industry had overestimated demand. Prior reports have also noted that the legal industry is not generating as much tax revenue as expected. The New York Times noted that the state sold less legal cannabis in 2018 than the prior year, when it was not legal recreationally.
Read on at . https://www.newsweek.com/california-marijuana-produce-weed-could-crash-market-1370358