fbpx
Florida Marijuana Sales Ranks Third In Country for 2020

Florida Marijuana Sales Ranks Third In Country for 2020

Florida marijuana sales rank third in the country for 2020
Florida’s medical cannabis marketplace generated an estimated $1.3 billion in sales last year, ranking third in the country for 2020 cannabis sales.

Although Florida has just a medical cannabis system, the state emerged as one of the nation’s most active cannabis markets in 2020, according to the recent cannabis jobs report by Leafly and Whitney Economics.

Florida ranked third in the country for cannabis sales in 2020 with an estimated total reaching $1.3 billion, only behind Colorado and California, which both have adult-use cannabis markets and have had medical cannabis systems since the 1990s.

Home to 331 dispensaries spread across the state, Florida added 170,000 patients in 2020, bringing the total of registered patients to nearly a half million at 485,693. The state also added roughly 15,000 cannabis jobs in 2020, bringing the total number of Floridians employed by the medical cannabis sector to 31,444. The report suggests Florida’s cannabis receipts could easily double if the state adopted adult-use cannabis, estimating the potential for up to $2.1 billion in sales, $800,000 per month in taxes, and up to 80,000 local jobs by 2025.

“With a state population of nearly 22 million, Florida could reasonably double its current total of cannabis jobs if it chose to legalize for all adults.” — Excerpt from the Leafly and Whitney Economics job report

Despite the high sales numbers, Florida’s medical cannabis structure has led to some issues. Additionally, there are a handful of adult-use and medical cannabis reform bills currently stalled in the Florida legislature.

Currently, a case working its way through the courts seeks to overturn the state’s vertically integrated regulatory structure on grounds that it is unconstitutional, The Center Square reports. Already having won its challenge in Tallahassee District Court, the case will be considered next by the Florida Supreme Court on March 1.

At least one bill seeking to limit THC levels in medical cannabis products will reach committee consideration, however, setting up a potential contest between the growing cannabis prevention movement, a tax-hungry state budget, and medical cannabis patients.

Dozens of companies apply for six Georgia medical marijuana licenses

Dozens of companies apply for six Georgia medical marijuana licenses

Dozens of applicants apply for just six Georgia marijuana licenses

From nearly 70 applicants, six companies will be chosen to begin manufacturing medical marijuana oil for Georgia patients.

The Georgia Access to Medical Cannabis Commission announced this month it will review the proposals and then award licenses to six companies, possibly in late spring or early summer.

The winning companies will then have one year to begin operations, according to state law, providing medicine for 14,000 registered patients for conditions including seizures, terminal cancers and Parkinson’s disease. Though they’re allowed to consume the medicine, there’s no legal way to buy it until the companies come online.

“The goal is to ensure that patients have access to the highest-quality medicine that we can arrive at in our state with these production facilities,” said Andrew Turnage, the commission’s executive director. “I’m very impressed with the quality and caliber of applicants.”

Licenses will be awarded based on criteria set in a state law creating the cannabis oil program in 2019. Companies submitted plans for production, business operations, facilities and seed-to-sale tracking, Turnage said.

Under the law, six companies will be licensed to cultivate medical marijuana, which can have no more than 5% THC, the compound that gives marijuana users a high. They’ll be allowed to grow the drug on a total of 400,000 square feet of indoor growing space statewide.

“The only thing we should be thinking about is how we can get the safest oil and the best medicine to Georgia patients,” said state Rep. Micah Gravley, a Republican from Douglasville who sponsored legislation starting the program. “The licensees should be the six companies who are capable of creating a lab-tested, trusted, safe oil, and have a tested and proven product in other states.”

Lawmakers limited the number of licenses as part of a compromise between House and Senate leaders who had struggled to strike a balance between providing access to legitimate patients while preventing illegal marijuana distribution.

US cannabis jobs surpass 321,000 full-time jobs

US cannabis jobs surpass 321,000 full-time jobs

cannabis jobs surpass 300,000 in the US

How many jobs are there in America’s legal marijuana industry?

The 2021 Leafly Jobs Report, issued earlier today, found 321,000 full-time equivalent (FTE) jobs supported by legal cannabis as of January 2021. That total includes both plant-touching and ancillary jobs—everyone from budtenders to bean-counters.

To put that in perspective: In the United States there are more legal cannabis workers than electrical engineers. There are more legal cannabis workers than EMTs and paramedics. There are more than twice as many legal cannabis workers as dentists.

cannabis jobs exceed 300,000 in the US

The annual Leafly Jobs Report, produced in partnership with Whitney Economics, is the nation’s cornerstone cannabis employment study.

Federal prohibition prevents the US Department of Labor from counting state-legal marijuana jobs. Since 2017, Leafly’s news and data teams have filled that gap with a yearly analysis of employment in the legal cannabis sector.

Whitney Economics, a leading consulting firm that specializes in cannabis economics, policy, and business consulting, has partnered with Leafly on the project since 2019.

Twice the job growth as 2019

Cannabis job growth in 2020 represents a doubling of the previous year’s US job growth. In 2019, the cannabis industry added 33,700 new US jobs for a total of 243,700.

Despite a year marked by a global pandemic, spiking unemployment, and economic recession, the legal cannabis industry added 77,300 full-time jobs in the United States in 2020. That represents 32% year-over-year job growth, an astonishing figure in the worst year for US economic growth since World War II.

Cannabis now an $18.3 billion industry in the United States

In 2020, Americans purchased $18.3 billion worth of cannabis products, a 71% increase over 2019.

When the COVID-19 pandemic hit the United States in March, many in the cannabis industry worried about a potential industry-wide shutdown. Instead, governors in most states declared cannabis an essential product. Dispensaries and retail stores responded by offering online ordering, curbside pickup, and delivery as COVID-safe options for their customers.

Customers responded by stocking up for months of stay-at-home advisories and social distancing. After a brief dip in late-March revenue, most stores saw a significant bump in April—and then the bump became a plateau.

Jamaica faces marijuana shortage as farmers struggle

Jamaica faces marijuana shortage as farmers struggle

Jamaican cannabis industry struggles due to supply and demand

Jamaica is running low on ganja.

Heavy rains followed by an extended drought, an increase in local consumption and a drop in the number of marijuana farmers have caused a shortage in the island’s famed but largely illegal market that experts say is the worst they’ve seen.

“It’s a cultural embarrassment,” said Triston Thompson, chief opportunity explorer for Tacaya, a consulting and brokerage firm for the country’s nascent legal cannabis industry.

Jamaica, which foreigners have long associated with pot, reggae and Rastafarians, authorized a regulated medical marijuana industry and decriminalized small amounts of weed in 2015.

People caught with 2 ounces (56 grams) or less of cannabis are supposed to pay a small fine and face no arrest or criminal record. The island also allows individuals to cultivate up to five plants, and Rastafarians are legally allowed to smoke ganja for sacramental purposes.

But enforcement is spotty as many tourists and locals continue to buy marijuana on the street, where it has grown more scarce — and more expensive.

Heavy rains during last year’s hurricane season pummeled marijuana fields that were later scorched in the drought that followed, causing tens of thousands of dollars in losses, according to farmers who cultivate pot outside the legal system.

“It destroyed everything,” said Daneyel Bozra, who grows marijuana in the southwest part of Jamaica, in a historical village called Accompong founded by escaped 18th-century slaves known as Maroons.

Worsening the problem were strict COVID-19 measures, including a 6 p.m. curfew that meant farmers couldn’t tend to their fields at night as is routine, said Kenrick Wallace, 29, who cultivates 2 acres (nearly a hectare) in Accompong with the help of 20 other farmers.

He noted that a lack of roads forces many farmers to walk to reach their fields — and then to get water from wells and springs. Many were unable to do those chores at night due to the curfew.

Wallace estimated he lost more than $18,000 in recent months and cultivated only 300 pounds, compared with an average of 700 to 800 pounds the group normally produces.

Activists say they believe the pandemic and a loosening of Jamaica’s marijuana laws has led to an increase in local consumption that has contributed to the scarcity, even if the pandemic has put a dent in the arrival of ganja-seeking tourists.

“Last year was the worst year. … We’ve never had this amount of loss,” Thompson said. “It’s something so laughable that cannabis is short in Jamaica.”

Tourists, too, have taken note, placing posts on travel websites about difficulties finding the drug.

Read the Full Story from AP

Czech medical cannabis sales surge, but market remains small

Czech medical cannabis sales surge, but market remains small

czech medical marijuana sales surge but industry remains small

The Czech market for medical cannabis flower quadrupled last year compared to 2019, according to data published by the State Agency for Medical Cannabis.

However, the market remains very small.

In 2020, roughly 68 kilograms (150 pounds) of medical cannabis flower was sold to patients in Czech pharmacies, compared with 17 kilograms the year before, the data shows.

Expectations that the market would see a tremendous boost after medical cannabis was included in the country’s public health insurance in early 2020 have so far failed to materialize.

Experts say that is partly because insurance coverage is only one of many factors guiding the market’s development.

As Marijuana Business Daily previously reported, bureaucratic hurdles and limited participation in the medical marijuana program by doctors and pharmacies represent challenges that were not resolved with the introduction of the health insurance-coverage scheme.

Despite that, the market is growing with improved access.

October and November saw record sales of medical cannabis, with about 7 kilograms sold each month.

The number of unique patients, which was below 500 at the end of 2019, doubled to 1,103 in December 2020.

The number of doctors prescribing cannabis products also increased.

In December 2019, 78 doctors prescribed cannabis. That number grew to 123 by December 2020.

Since the beginning of last year, Czech patients have been entitled to insurance coverage on 90% of the retail price for 30 grams of flower per month for medical use, regardless of THC content.

In exceptional cases, doctors may authorize quantities exceeding the monthly limit of 30 grams for reimbursement, up to a maximum of 180 grams per month.

In practice, however, patients received roughly 6 grams per month on average during the final months of 2020.

Almost 80% of the cannabis prescriptions last year were to treat chronic pain.

Elkoplast Slušovice remains the only domestic producer, with the rest of the supply coming from Canadian producers Aurora Cannabis and Canopy Growth.

Enthusiasm For Oklahoma’s Medical Marijuana Boom Tempered By Concerns Of A Bust

Enthusiasm For Oklahoma’s Medical Marijuana Boom Tempered By Concerns Of A Bust

Oklahoma medical marijuana boom could be short lived, some worry

Oklahoma has what many consider to be the only free-enterprise medical marijuana industry in the U.S., with cheap startup fees, no cap on medical marijuana business licenses and few limits on who can get a patient card. But this low barrier to entry could lead to an oversaturated market where cannabis businesses struggle to survive.

Jessica Baker, owner of Bakers Cannabis Dispensary in northwest Oklahoma City, has witnessed the growing pains other young marijuana industries like Oklahoma’s have experienced over her two decade career in the business.

She and her husband Chip started growing medical cannabis in California in 1997, which eventually led them to Colorado, where Chip opened a couple of hydroponic stores.

After the passage of State Question 788 in June of 2018, which legalized medical marijuna in Oklahoma, Chip noticed he started receiving an influx of business from Oklahoma.

“People were ordering lights and soil and nutrients,” Jessica said.

The Bakers saw promise in Oklahoma’s medical marijuana market and decided to move to the state at the end of 2018.

In addition to the dispensary and its attached clone nursery, Chip owns a nearby hydroponic store in OKC, and Jessica has a marijuana farm and processor about 40 miles northeast of the city.

Jessica said it’s been a nice change of pace doing business in Oklahoma’s medical marijuana market.

“My businesses have primarily been in California where it’s very difficult and expensive,” Jessica said. “Oklahoma in general… they made it pretty easy for people, which is nice and affordable.”

Oklahoma has some of the cheapest annual commercial licensing fees in the country at $2,500, especially compared to California where licensing fees can reach six figures and range depending on estimated annual gross revenue.

There’s also no limit on licensed medical marijuana businesses in Oklahoma unlike other states such as Louisiana where only one dispensary is allowed in each of the state’s nine regions.

And with no list of qualifying conditions, it’s easy to get a physician to write a recommendation for a medical marujuana patient card. This has led to over 367,000 Oklahomans, nearly 10% of the state’s population, obtaining a medical marijuana patient card, which according to Politico makes Oklahoma the largest medical marijuana market per capita.

Jay Czarkowski, founding partner of the marijuana business consulting firm Canna Advisors, said Oklahoma’s medical marijuana program has grown rapidly. 

“The medical marijuana program in Oklahoma, it’s such an open, liberal program, it is almost like adult use legalization,” Czarkowski said. 

Oklahoma is just shy of having 10,000 active licensed medical marijuana businesses, which includes over 2,000 dispensaries and about 6,500 growers. 

Jessica was surprised about Oklahoma’s medical marijuana industry. So many people with little to no prior experience with cannabis were so eager to get into the business.  

“It says something about people from Oklahoma… that they would just jump into something of the unknown and kind of gamble on it, which is a pretty cool quality,” she said. 

But the flip side to Oklahoma’s low barrier of entry for starting a medical marijuana business is the pressure it puts on the market. 

Sarah Lee Gossett Parrish, an Oklahoma attorney who represents over 150 cannabis businesses, said some enter the market with the misconception that it will be fast money. 

“You have people getting into it who don’t understand that the cannabis industry is just like any other business,” she said. “You have to work hard and have a strong business acumen and know what you’re doing.”

Because there are so many growers, Gossett Parrish said they need to zero in on a market to avoid being eclipsed by larger growers that generate a massive supply of product. 

“If you are a craft grower and maybe an organic grower and you pick and choose certain illnesses and conditions for which you grow strains and you target your market, then you’re going to fare well,” Gossett Parrish said. 

Unless the state legalizes recreational marijuana within the year, Jessica expects many cannabis businesses will have to shut down. She said there’s more marijuana than there is demand from patients.

Original Story from KGOU

KGOU is a community-supported news organization and relies on contributions from readers and listeners to fulfill its mission of public service to Oklahoma and beyond. Donate online, or by contacting our Membership department.

Social Share Buttons and Icons powered by Ultimatelysocial
error

Like The Real Dirt? Please spread the word :)