Cannabis Briefs for February 21, 2023
February 21, 2023•Oregon’s cannabis industry is performing poorly, according to a biennial Supply and Demand Report commissioned by the Oregon Liquor and Cannabis Commission. “Previous market cycles have been buoyed by large annual increases in consumer demand, and Oregon’s recreational marijuana market has successfully transitioned most in-state consumers to the legal market,” the report’s authors wrote. “However, it is in arguably the weakest economic position it has been in since the inception of the program in 2016 due to a decrease in the growth of demand in Oregon, a production cycle that responds to market signals on a lag, and increasing stockpiles of inventory.”
•A California lawmaker has introduced a bill that would allow cannabis lounges to serve prepared food and drink. Assembly member Matt Haney’s bill would free up lounge owners to operate kitchens, serve coffee, and host live music events. Under the current rules, California has no dedicated license type for lounges, forcing lounges to be classed as retail locations, and therefore forbidden from selling anything other than cannabis products.
•Virginia’s slow rollout of cannabis legalization continues. Virginia legalized recreational cannabis in 2021 and set a deadline for sales to start by the beginning of 2024. State legislators need to decide on key regulatory details but so far that hasn’t occurred. A bill introduced in recent days that would have done so was killed in committee, leaving the process in limbo. And a state spending proposal would cut funding for Virginia’s Cannabis Control Authority by 70%, raising questions about its ability to carry out its mission.
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.Tagged : cannabis
