Cannabis Briefs for November 22, 2022November 22, 2022
•New York has issued its first retail adult-use permits as it strives to begin recreational sales before the end of the new year. In an effort to speed the process, New York’s Office of Cannabis Management is allowing licensees to begin delivery sales before their brick-and-mortar storefronts are open. Twenty-eight of the first 36 licenses were awarded to individuals with past cannabis convictions, while eight more went to nonprofit groups.
•Arizona surpassed $1 billion in cannabis sales in the year-to-date through September. Monthly adult-use sales were down slightly at $75 million, while medical sales fell 12% sequentially to $31 million. Last year, in its first year of adult-use sales, Arizona’s cannabis market totaled $1.4 billion. Several of the largest selling days of the year occurred in the fourth quarter, including the Wednesday before and the Thursday after Thanksgiving.
•Humboldt Family Farms, a collaboration among legacy farmers from the famed Humboldt County, California growing region, is launching a collection of flower, pre-roll, and vape cartridges. Available for direct-to-home delivery through online ordering, the lineup includes Blue Dream and Galaxy OG flower, Train Wreck and Galaxy OG vape cartridges, and pre-rolls in blends of Galaxy OG and Saphire Tsu, and Blue Dream and Maui Waui.
•Michigan’s cannabis sales were roughly flat in October at $209 million on a sequential basis, even as they jumped 28% year-on-year. While medical sales fell 9% sequentially to $15 million, adult-use sales were flat at $194 million compared with the previous three months, while increasing more than 50% year-on-year. Flower accounted for a dominant $93 million in adult-use sales for the quarter, with vape cartridges at $40 million and edibles at $22 million. For all of 2021, Michigan’s total cannabis sales registered $1.79 billion. They’ve already surpassed that mark in 2022, reaching $1.87 billion in the year-to-date.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.