Cannabis Briefs for May 23, 2023May 23, 2023
•A bipartisan pair of Pennsylvania state senators are filing a cannabis legalization bill. Senators Dan Laughlin and Sharif Street, who have previously worked together on the issue, are circulating a memo seeking support for their bill, which would create a commercial cannabis market for recreational use. The full text of the bill is not yet available but the senators say it will “improve on our proposal from last session.” The legislation will prioritize public safety, according to their press release, giving law enforcement “the means to adjudicate” DUI stops and “the authority to eradicate any illicit market.” They expect to file the bill sometime next month.
•Reliable as the tides, cannabis sales jumped across Canada in March, according to data from Stats Canada. Cannabis dollars were up 11% from February, in a trend that’s proven remarkably durable and common across markets for the last few years, in which cannabis sales habitually bottom out in the second month of the year before rebounding as spring dawns. March’s monthly total ranked No.-2, behind last December, at C$405.5 million ($300m). Sales were led by Ontario where they were up 12% to C$158.9 million, followed by Alberta where they rose 11.2% to C$72.3 million, and British Columbia, up similarly to C$63.4 million.
•Recreational cannabis sales in New York have exceeded $16.5 million since the first retail location opened in late December, according to the state’s Cannabis Control Board. That low total is indicative of the slow start the market has gotten in the Empire State as lawsuits and other delays have hamstrung operators and prevented retail licensing. Although the retail freeze has finally been lifted, only 10 licensed recreational shops are open statewide, six of which are in New York City and all of which are “downstate.” Regulators have now issued 215 retail licenses so sales are expected to accelerate as more shops open their doors, but the final figure for the year will be a far cry from the $1 billion projections once common.
•Maine’s recreational cannabis market grew 93.8% in 2022 from the year prior, reaching $158.9 million in sales. The state collected $9.9 million in excise taxes and an additional $17.5 million in state taxes. The report also provides a snapshot of the state’s industry as of December 31, 2022, when there were 112 active cannabis retail locations, as well as approximately 80 cultivation licenses.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 : canadian sales, cannabis, Maine Sales, new york recreational
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