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.
Iowa Mayor Charged For Growing 18 Marijuana Plants in Her Home
Why the Women of Broad City are the Stoner Heroines We’ve Been Waiting For
Governor of Florida Pushing to Lift Ban on Smokeable Marijuana
Are Unlicensed Operators Accessing California’s Legal Cannabis Market?
Health7 days ago
Medical Marijuana Recalled From Two Michigan Dispensaries Due to Failed Lab Tests
News4 days ago
Man Leaves Two Pounds of Pot in Uber, is Arrested Trying to Retrieve It
Medical Marijuana7 days ago
NJ Doctor Suspended for Recommending Medical Marijuana to Thousands of Patients
News3 days ago
Cop Caught with Child Porn Serves 90 Days in Jail; Man Selling Weed Gets 5 Year Sentence
News4 days ago
St. Louis, Missouri Will No Longer Prosecute Marijuana Possession Under 100 Grams
Science4 days ago
Is Psychedelic Healing in Your Genes? A Team of Scientists Seeks to Find Out
Culture3 days ago
10 Video Games to Play High as Hell in 2019
News2 days ago
Governor of New York Presents Plan to Legalize Recreational Marijuana