When legal weed sales went into effect on July 1, the excitement was palpable. Now, weed shortages and spiked up prices are also becoming palpable, verging on untenable.
Between distribution issues and much larger than expected sales, dispensaries and producers alike are freaking out; there’s not enough weed to go around, aggravated by the fact that there are only two distributors for retails outlets. Serious understaffing.
The market simply cannot keep up with the demand, which as we learned in Econ 101, has resulted in an increase in the price of marijuana—a 200 percent increase in just one month.
“Right now, the retail stores are really struggling with keeping a consistent product on the shelf and meeting demand,” said Brayden Sutton, CEO of Friday Night Inc., a Canadian-based adult-use cannabis company.
He added that the price per pound for trim has gone from $150 to $450 in one month. Yikes.
“They are constrained by what cultivators can produce, which is nowhere near what they need to be right now,” said Sutton.
Nevada only has 88 state-approved cultivation facilities, at least so far.
Nevada’s legal recreational market nearly got derailed at the last minute when alcohol distributors wanted to take sole control of delivering weed to the dispensaries.
Nevada’s law, unlike other legal pot states, dictates that only alcohol wholesalers can transport cannabis from growers to storefronts for the next 18 months.
However, applications from the booze distributors didn’t materialize in time and a temporary order was passed to get the market up and running.
Now, under certain circumstances, the state has agreed to license some retailers to transport pot from growers to storefronts.
A judge recently ruled that even more distributors could be approved and that alcohol distributors did not have the right to a monopoly.
It’s worth pointing out that Nevada’s early start plan could have something to do with not having enough time to iron out some of the wrinkles the state is facing.
Nevada was not expected to start selling recreational marijuana until sometime around mid 2018.
This is all fine for the future. But Nevada’s 602,000 people (55 percent) who voted for legal recreational weed–not to mention the thousands of tourist who visit Sin City daily—are waiting for those wrinkles to get ironed out.
The Return Of The Super Sativa Seed Club
Getting Lost At The FounderMade Discovery Show West
Oklahoma Lawyer Pleads Guilty to Staging Threats From Irate Cannabis Proponents
Study Suggests Legal Cannabis Could Create Over 100,000 Jobs in Florida
Expert Lighting Advice For Taking Your Grow To The Next Level
The Rebirth Of Subcool: The Inside Story Of A Legendary Bud Breeder
The Best Hydroponic Methods For Growing Cannabis Yourself
Authorities Investigating “Dank” Cartridges As Possible Culprit In Vape-Related Illnesses
Grow6 days ago
Master Of Hash: Frenchy Cannoli’s Plan To Change The World Of Hashmaking
News6 days ago
Researchers Study How to Treat Cannabis Addiction With More Cannabis
News3 days ago
Canadian Cannabis Company Will Sell Marijuana For Less Than $5 Per Gram
News6 days ago
Kushy Punch Under Scrutiny For Allegedly Making Illegal Vape Cartridges
Activism4 days ago
Compassion Lives on in California as Governor Signs The Dennis Peron and Brownie Mary Act
News4 days ago
California Governor Signs Several Marijuana-Related Bills
News5 days ago
Comprehensive Marijuana Legalization Bill Introduced in Pennsylvania
News5 days ago
Florida Man Calls Police to Report His Roommate For Stealing His Weed