Emerging Markets Roundup: August 2022
There’s never a dull moment in the world of regulated cannabis.
With everything from regulatory updates being made in existing markets, to ongoing efforts towards Federal legalization – and everything in between – tracking what might be of interest to the cultivator community can be overwhelming.
But we’re on it!
Each month, AROYA’s emerging markets round-up is a chance to spotlight breaking news we think cultivators should know about. Here are some of the stories that recently caught our eye…
- A proposed measure that could result in Arkansas legalizing recreational cannabis has received enough signatures to qualify for the November ballot. If approved, the measure will legalize cannabis for adults aged 21 and over, enable medical cultivators and dispensaries to apply for licenses under the new adult-use framework, and limit licensing to a maximum of 20 cultivations and 120 dispensaries within the Natural State. Read more at High Times…
- Maine is the latest state to experience a steep decline in the cost of cannabis flower, showing a decrease of more than 41% in the last 2 years. When the Pine Tree State launched adult-use in 2020, the average price per gram of flower was $15.83. Now, with a reported 70 licensed cultivators serving 100 dispensaries, and just 10% of cities having opted in for cannabis retail, producers are seeing year-to-date averages dip to $10.29 per gram. Read more at Sun Journal…
- In a move that could expand patient access and boost sales as a result, regulators in Maryland have enacted changes that will make it easier for patients in the Old Line State to renew their medical cannabis ID cards. In addition to reducing the price of the cards from $50 to $25, the Maryland Medical Cannabis Commission also expanded the cards’ validity to six years instead of three. Read more at MJBizDaily…
- The effort to get adult-use legalization on the Missouri ballot this November is coming down to the wire – and things aren’t looking good. With just days left before the August 9 deadline, two congressional districts are reportedly falling short of the required number of valid signatures. Organizers behind the Legal Missouri initiative have reportedly spent $6 million on the campaign which, if approved by voters, would allow licensees under the Show Me State’s medical marijuana program to also serve nonmedical adult consumers, increase the number of dispensary and wholesale licensees, and expunge cannabis offenses from criminal records. Read more at Missouri Independent…
- Oklahoma is placing a two-year moratorium on new medical cannabis licenses. Beginning August 26, the Sooner State will be putting dispensary, processing, and cultivation licensing on pause to give regulators time to shore up the compliance issues plaguing its medical program. Since legalizing medical cannabis in 2018 Oklahoma has become a major industry hub, issuing licenses to more than 7,300 cultivators, 1400 producers, and over 2200 dispensaries as of July. Read more at MJBizDaily…
- Curious about cultivating in Rhode Island? Shout out to Marijuana Moment for sharing FAQs published on Facebook by Ocean State regulators to get the word out about hybrid marijuana cultivator licenses.
- On the National front, cannabis tech company BDSA released findings from their latest Consumer Insights Survey, and you know we love data! Among the survey’s biggest takeaways is this mind-blowing nugget: thanks to continued legalization, not only are more Americans open to trying cannabis – but nearly 50% of people in the US currently have access to legal cannabis. Read more at Green Market Report…
- For the first time in its 100+ year history, Forbes has chosen to feature a cannabis executive on its cover. Cookies Co-Founder and CEO Berner, aka Gilbert Anthony Milam Jr., will grace the August/September 2022 issue of the magazine. The 38-year-old rapper and mogul has built a multi-million dollar brand in Cookies, extending beyond cannabis to include apparel, accessories, and a global retail presence. Read more at Forbes…
Got the scoop on something going on in your emerging market? Email it to mandy.spivey@metergroup.com so we can cover it!
And be sure to check back with us for news, important topics for cultivators, operators, investors, and anyone who wants to stay on the forefront of this amazing time in cannabis and crop steering history.