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Why the number of dispensaries is concerning the cannabis industry

Via KOAT

In the most recent report from the state, New Mexico's cannabis industry brought in more than $30 million every month from March to September.

Those working throughout the industry, all the way from the greenhouses to the dispensaries, However, experts KOAT spoke with say it's not the money they are worried about. It's the businesses not making enough for themselves.

"Looking at the data, the number of licenses that have been issued in the state of New Mexico, it's of extreme concern to us," said Jessie Hunt, who is a spokesperson with R. Greenleaf and Everest dispensaries.

Hunt said this because the state has granted over 1,000 licenses since voters legalized ma*****na for recreational use. Although the Cannabis Control Division is reporting millions from recreational and medicinal sales, most of New Mexico's biggest cities have dispensaries reporting more cannabis in stock than they can sell.

"I do feel the pressure of our clients and feel for them," Priscotty Cannabis Delivery CEO Scott Prisco said.
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CannaNews 🚨🍃

After troubled start, New York is shaking up its legal ma*****na market with new competitors

Via Local 10

New York officials launched legal recreational ma*****na sales by promising many of the first retail licenses to people with past drug convictions, hoping to give people harmed by the war on drugs a chance to succeed before competitors crowded in.

But more than nine months after sales started, only about two dozen state-sanctioned dispensaries have opened their doors. Legal challenges over the state's permitting process have left more than 400 provisional licensees in limbo. Ma*****na farmers are reeling because there are too few stores to sell their harvest.

State regulators are now expanding the market amid those troubles. They recently opened up a 60-day general application window to grow, process, distribute or sell ma*****na, expecting to issue more than 1,000 new licenses. New rules also will allow companies licensed to grow and sell medical ma*****na in New York to get into the recreational market.

The moves are expected to boost the number of legal dispensaries in a market now dominated by black-market sellers who simply opened retail stores without a license. But the prospect of competing with the medical providers worries some farmers and retailers who fear being squeezed by deeper-pocketed companies before they had a chance to establish themselves.
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