Cannabis Business Times’ Post

ECMA is thankful to the Cannabis Control Board and the Office of Cannabis Management for finding ways to be flexible, including by approving location and tier changes for processors and cultivators at yesterday’s Control Board meeting. These are non-consumer facing companies that should be able to locate their facilities where it makes the most sense for their operations, and enabling cultivators who applied to change tiers and continue to grow our industry is key to keeping supply and demand in balance. It’s exciting to see that New York’s cannabis industry remains on the right path with more than 100 licenses approved at yesterday’s meeting amid the ongoing – and successful -- focus on achieving the MRTA’s equity goals. https://lnkd.in/eVNBbuET

In the evolving landscape of the legalized cannabis industry, data has emerged as a powerful tool for insight, direction, and benchmarking. The California Department of Cannabis Control (DCC), aware of this shift, has taken a pivotal step in transparency and industry support with the recent launch of its data dashboards. This resource compiles and visualizes intricate details about the licensing, cultivation, and retail sales within California’s cannabis market, offering a deep dive that has been sorely lacking until now. While the launch of the new data dashboards signals a positive shift, it’s hard to ignore the delay and the gap the state had in order to get here. In comparison to several other legal cannabis states which have been providing regular and detailed data updates, California’s efforts appear late to the party.

Curing is an often overlooked but essential component of producing medical grade cannabis. The preservation of the terpenes throughout the post harvest process is often the difference between an average product and a well received product. At Forbidden Harvest, we are focused on ensuring that the hard work we put in to our cultivation is not wasted through industrialised post harvest processes. A lack of respect in the post harvest process is a sure fire way to ensure that your product will never reach its true potential. While some producers are solely focused on the mentality that time is money - at Forbidden Harvest, we think time makes quality - and we don't want to waste anyones time with anything less. That's why we only grow in small batches, allowing us to take our time and ensure that only the highest level of output makes it out of our facility. It's about ensuring that what we produce, we would be happy for our families to use to help their conditions. It's about care for the process. It's about care for the outcome. That's the Forbidden Harvest difference - Hand Crafted, Australian Grown.

The New York State Cannabis Control Board granted licenses to 114 new cannabis companies and decided to waive all conditional cannabis cultivator licensing fees for the next two years. This means dispensaries transitioning to non-conditional licenses, like cultivation businesses and microbusinesses, won't have to worry about paying fees that can range from $4,500 to $40,000, depending on their canopy size. There are now 88 licensed and operational dispensaries in New York, as announced by Governor Kathy Hochul's office. “Farmers are the backbone of our State, and we’re making sure the family farms across New York that are building our cannabis industry have a real chance to succeed. I have made it clear that New York State needs to issue more dispensary licenses and kickstart cannabis sales in New York, and this two-year promise to Adult-Use Conditional Cultivators will make sure these farmers can reap the benefits of this growing industry.” — Hochul, in a statement #cannabisnews #cannabisdispensary #cannabisindustry

When we first started making plans to produce medical cannabis for the Australian market, we had one major goal...to stop Australia being so reliant on international imports for high quality products. It has long been a controversial position to take that the Australian cultivation scene wasn't meeting standards. Misguided practices which were meant to revolutionise the process and distance producers from traditional practices did little except diminish our standing as international producers and open the door for major international players to begin dominating the Australian market. Much noise was made around an uneven playing field, but there was silence on why these products were preferred at a patient level. That is where we at Forbidden Harvest saw an opportunity to raise the bar and try to meet our competition at a level worth competing at. Over the past 6 weeks, we have been working tirelessly to get our team and facility operating at its potential. Already, through the implementation of traditional practices we have seen tremendous improvement in terms of the quality of this facilities output. We will be continuing to improve upon our processes in the coming months, with the ultimate goal being to show the market what Australian grown cannabis has the potential to be. It's a massive challenge, but one that we are more than confident we will be able to achieve. We are very excited to see our products entering the market soon, with our total output already sold for the coming year! It has been lifelong dream for us to be able to serve the Australian market at a level it deserves to be served at and we look forward to seeing this market grow into maturity. Hand Crafted. Australian Grown. Forbidden Harvest.

By the end of 2023, adult-use #cannabis was legal in 24 states-- a major testament to the growth and evolution of the industry as a whole. In this piece for Cannabis Now, several industry experts share how they think this momentum will build in 2024. I highly recommend reading through the entire piece, but here are a few predictions I think are important to pay attention to: - A strengthened focus on creating efficiency across the supply chain. - A possible rescheduling of cannabis as a Schedule III controlled substance in April. - A rise in cannabis beverages as an alternative to alcohol. It has been difficult to predict the future of the #CannabisIndustry, but I am optimistic about 2024. Which predictions do you agree with? What other predictions do you have?

🚀 Exciting Times Ahead: NY's Cannabis Industry Expansion 🚀 The New York Cannabis Control Board's recent approval of 109 licenses marks a pivotal shift in the state's adult-use cannabis landscape. This includes 21 new dispensaries, 23 growers, 20 distributors, 23 microbusinesses, and 22 processors. Such an expansion aims to alleviate the application backlog and combat the persistent illicit market. 📝 Key Points: 1. **Market Growth**: The influx of new players—dispensaries, growers, distributors, microbusinesses, and processors—signals robust market growth and diversification. 2. **Economic Impact**: These licenses are set to spark economic activity, creating jobs and opportunities across various sectors, from agriculture to retail. 3. **Regulatory Evolution**: The CCB's decision to liberalize advertising rules—allowing bright colors, price promotions, loyalty programs, more digital and billboard ads—could redefine competitive strategies within the market. 4. **Public Engagement**: A 45-day public comment period precedes the regulation shift, underscoring the need for stakeholder feedback in shaping industry standards. 📊 Implications: - **Competitive Edge**: Enhanced advertising freedoms could boost brand visibility and consumer engagement, but equally raise the stakes for market players. - **Illicit Market Mitigation**: These measures are strategic moves to channel consumer demand towards legal avenues, thereby shrinking the illicit market's footprint. - **Innovation Drive**: The introduction of microbusiness licenses can lead to innovative, localized cannabis solutions, promoting diverse business models. How do you foresee these changes impacting the future of the CBD industry? What challenges and opportunities do you anticipate? Engage in the conversation below! 💬👇

New Article: How to Start a Cannabis Business in Vermont? There are seven license types in Vermont – cultivators, manufacturers, retailers, wholesalers, testing laboratories, nurseries and integrated licenses. Get Vermont Cannabis Market news and legislation updates, cannabis business plan templates and samples at cannabusinessplans.com. #cannabisvermont #cannabisbusinessplan https://lnkd.in/gRBBUF2K

Cannabis news and events update from the tri-state area and Maryland! Stay up-to-date on the latest cannabis legislation and rulemaking, regulatory changes, and other noteworthy news and events from #NewYork, #NewJersey, #Connecticut, and #Maryland. ⭐ What's new? + New York: The Cannabis Control Board (CCB) met on January 12, 2024, to approve existing ROs’ applications for expanding to adult-use operations. + The New Jersey CRC met on January 17, 2024 and highlights include an update on dispensary openings that included that there are over 90 medicinal and recreational dispensaries operating in 20 counties + The Connecticut Department of Consumer Protection (DCP) released a market update to celebrate one year since the first adult-use cannabis sales in the state. Since adult-use sales began on January 10, 2023, the Connecticut adult-use and medical market has conducted a combined $274 million in sales. + The Maryland Cannabis Administration (MCA) announced applications for adult-use licenses closed on December 12, 2023. Stay tuned for more updates: https://ow.ly/mVzR50QwRoC #cannabis #cannabisnews #cannabislegislation #cannabisrulemaking #cannabisregulation #VicenteLLP

The Maryland Cannabis Administration wants to create a license for a new type of business that would sell cannabis plants and seeds — a move that could close one of the largest loopholes in the nascent industry. House Bill 253 would allow for the creation of a business called a “cannabis nursery” that will sell seeds, immature plants, and clones of cannabis plants to other firms under the regulatory oversight of the MCA. The bill may be intended to fix one of the biggest legal gray areas in the industry — how growers get the seeds they need to start their business. When the cannabis industry launched, businesses did not have a legal way to get the cannabis seeds or immature plants necessary to grow the drug. The plant is still federally illegal so business owners cannot import immature plants across state lines. https://lnkd.in/gZnMMxEw