Marijuana Business News

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Fri
12
Feb

Concentrate Sales Are Up 40 Percent. Here's Why.

blocks of letters spelling out Sales on top of stacks of coins

Sales of marijuana concentrates shot up more than 40 percent last year and accounted for a larger share of the overall cannabis market, as consumers became more comfortable with the intricate process of dabbing and new technology has made the products easier to use.

In addition, some consumers are moving away from vape products because of respiratory-related health concerns and turning to concentrates such as wax, hash and shatter, according to industry insiders.

Fri
12
Feb

Colorado’s marijuana industry flexed its big muscles and now an effort to limit pot potency is unraveling

store front

State Rep. Yadira Caraveo says her proposal to limit the potency of marijuana sold recreationally in Colorado was just in its beginning stages. But when draft legislation was recently leaked and prominent figures in the state’s cannabis industry created an uproar, the measure started unraveling. 

Now, Caraveo, a Thornton Democrat and pediatrician, is backing off parts of the measure and loosening the restrictions in what’s left.

“Given the pushback that we’ve had overall on the bill,” she said, “we really want to streamline it and focus it on the things that we think absolutely need to happen this year.”

Fri
12
Feb

3 Marijuana Stocks That May Be The Right Investment In 2021

money with stock lines highlighted

Will These 3 Cannabis Stocks Give Investors More Market Value

Currently, in 2021, there has been more money invested in marijuana stocks and the industry as a whole. As the cannabis industry gears up for the potential of federal cannabis reform there is great excitement behind it. Because of this investors have been making sure they don’t miss a good opportunity. This positive sentiment has created some more upward momentum causing some marijuana stocks to reach new all-time highs.

Thu
11
Feb

CBD Franchises Are Booming. But How Long Can They Last?

table of medical pills

Lauren Lerch witnessed the unthinkable: She was at a Las Vegas music festival in 2017 when a gunman opened fire and killed 58 people. Lerch escaped physically unharmed, but the experience gave her PTSD. “I’d hear a car backfire and I’d hit the ground,” says the 37-year-old California mother of three. She struggled with depression, anxiety, and panic attacks, but medications only made her gain weight and feel disoriented.

Thu
11
Feb

Jamaica’s Emerging Cannabis Industry Hit Hard By Natural Disasters

a flooded field

When someone is asked which country they think has the best cannabis, Jamaica will likely be mentioned more often than not.

No other nation is as associated with the cannabis plant as Jamaica.

Cannabis is a huge part of Jamaican culture and society, and as of lately, a growing legal industry.

For many years, Jamaica’s cannabis industry was entirely unregulated, although prohibition was loosely regulated. 

That changed recently, and Jamaica is now home to an emerging legal medical cannabis industry.

Entrepreneurs have tried to keep the legal supply steady, but mother nature is making it hard.

Thu
11
Feb

Group Seeks Approval Of Hemp As Animal Feed Ingredient In The USA

a bunch of chickens

The USA’s Hemp Feed Coalition (HFC) has lodged its first submission pleading the case for hemp to become an approved animal feed ingredient.

Two years in its development, the HFC’s submission was lodged with the Association of American Feed Control Officials (AAFCO) and the U.S. Food and Drug Administration-Center for Veterinary Medicine FDA-CVM. It seeks to make hempseed cake and meal legal for use as a protein supplement for broilers and layer chickens.

Feed is regulated at both the federal and state level in the USA – the FDA-CVM at a federal level, and at a state level usually by the state’s department of agriculture. AAFCO is a non-regulatory body that promotes the uniform regulation of feed throughout the country, working on the recommendations of the FDA.

Thu
11
Feb

CBD cannabis entrepreneurs seize their chance in France

woman holding up glass jar filled with cannabis buds

Tomany Macalou got his green light for a Paris cannabis shop last November, when a European court chided France for cracking down on cannabis products stripped of the THC molecules that get people high.

Moving fast, he joined a new crop of entrepreneurs entering a less-illicit side of France's cannabis market, offering buds but also teas, candy and oils containing only cannabidiol (CBD), the plant's other main ingredient.

"Some use it to lower their blood pressure or help with insomnia," Macalou told AFP at his shop, Cannabillion, just a few blocks from a police station in eastern Paris.

Wed
10
Feb

More than $205.4 million in cannabis taxes collected in Illinois as nonprofits receive first round of grants

hands cutting cannabis buds

About $31 million from adult-use cannabis taxes is going to nonprofits in Illinois as part of the Restore, Reinvest and Renew, or R3 program, and it’s not all going to Chicago.

Cannabis sales for January neared $90 million. Since adult-use sales began in January 2020, nearly $757.9 million in cannabis has been sold. The taxes on that can be more than 40%, depending on the potency and whether a local sales tax is added on to the state taxes.

For the state’s taxes, the total collected from January 2020 through last month totaled more than $205.4 million dollars.

Wed
10
Feb

2021 may be the year of hemp

marijuana plant outdoors

Floridians said they believe hemp businesses will boom this year and are hopeful about it.

“It’s just everything we worked on for two years is now in front of you. It’s very exciting,” said Holly Bell, the Director of Cannabis for the Florida Department of Agriculture.

Bell said she could barely contain her excitement looking at all the harvested plants in the middle of a greenhouse in Central Florida. 

Bell said she knows that 2021 is the year for hemp to take over.

“What we’re seeing in our preliminary numbers from our economists in our groups is tax revenues in the first full 12 months around $17 million,” Bell said.

She said that hemp is already bringing in lots of money, but also thousands of jobs. 

Wed
10
Feb

The Art of Terpene Recreation: Replicating Cannabis Strain Profiles

marijuana plants

While cannabis strains are typically praised for the strength and effects of their cannabinoids, a growing number of connoisseurs and industry pros alike are recognizing that a strain’s terpene profile can be of equal import.

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