Marijuana Business News

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Tue
08
Sep

Outdoor Vs. Indoor Grown Cannabis: Which To Choose?

Just as some wine aficionados seek wine based on terroir, some cannabis consumers like to explore the subtleties of individual strains. Which type of cannabis works best in this situation?

When recreational cannabis consumers examine the array of flower available at their local dispensary, they’ll notice that cannabis buds may have the same strain name and potency but they look and smell differently. So how do they know which ones to purchase? 

Tue
08
Sep

Pakistan plans hemp production with eye on global cannabis market

Pakistan has unveiled plans to allow the industrial production of hemp, spurring hopes farmers and businesses in the conservative Islamic country will be able to tap into the lucrative global cannabis market.

The move comes as Prime Minister Imran Khan's government struggles to boost the country's foreign exchange coffers that have been drained by a struggling economy, fiscal deficits and inflation. 

"This hemp market could provide Pakistan with some $1 billion in the next three years and we are in a process of making a full-fledged plan for this purpose," science and technology minister Fawad Chaudhry told reporters Wednesday.

Hemp is a type of cannabis plant containing cannabidiol (CBD) which advocates say has numerous medicinal and relaxing properties.

Tue
08
Sep

Activists Say Black And Brown Chicagoans Are Being Ignored In Cannabis Dispensary Licensing

The lottery for licenses to run cannabis dispensaries in Illinois is set to happen in the next few weeks.

Gov. JB Pritzker vows there will be social equity as far as who gets those licenses. But several minority leaders call that an empty promise, and say Black and Brown Chicagoans are being ignored.

“It makes no sense that again, in 2020, Governor Pritzker, you have a Black lieutenant governor, you have a Black mayor of Chicago, you have a Black drug czar overseeing the marijuana industry here in Illinois, but you don’t have any Black-owned marijuana dispensaries?” said community activist Tio Hardiman.

Tue
08
Sep

Big problems with South Africa’s proposed cannabis laws

The Cannabis for Private Purposes Bill, tabled in parliament on 1 September, provides clarity around the growing and private use of cannabis in South Africa.

While the bill can be seen as the first step in a revised, progressive approach to cannabis in the country, the proposed legislation also throws up a number of red flags, says law firm Cliffe Dekker Hofmeyr.

Tue
08
Sep

What Does This Recent Milestone for Canadian Pot Companies Mean for Investors?

Canada updated its quarterly sales numbers for the nationwide cannabis industry on Sep. 4. During the second quarter, which lasted from April to June, household spending on unlicensed cannabis totaled 785 million Canadian dollars and was down 4.7% from the previous quarter. This number has declined in every period since the recreational market opened in Canada on October 17, 2018. In the legal market, CA$648 million was spent on recreational pot and CA$155 million was spent on medicinal marijuana, combining for a total of CA$803 million.

Fri
04
Sep

Florida’s Cannabis Industry Is About To Change In a Big Way

New Laws Mean That The Florida Cannabis Industry Could See Some Large Shifts

Fri
04
Sep

There's a Smart New Way to Invest in Cannabis Stocks

Over the next decade, marijuana is on track to be one of the fastest growing industries. Although estimates vary wildly, worldwide sales could tally anywhere from $50 billion to $200 billion by the time 2030 rolls around. For context, global weed sales tallied just shy of $11 billion in 2018. It's this rapid growth of an already popular industry that has investors piling into pot stocks.

However, the cannabis industry isn't immune to that which plagues all next-big-thing investments. I'm talking about growing pains. To our north, regulatory issues have constrained supply and created huge bottlenecks. Meanwhile, in the U.S., high tax rates on legal product have made it difficult for licensed producers to compete with black-market growers on price.

Fri
04
Sep

Arizona Dispensary Opens Medical Marijuana Drive-Thru Window

South Phoenix medical marijuana dispensary The Mint has opened a drive-thru window as a safety protocol because of the coronavirus (COVID-19) pandemic. This is the second dispensary drive-thru to open in the state.

The Mint operates the largest medical marijuana dispensary in Arizona and the third-largest in the nation.

“The CDC is encouraging people to use drive-thru services whenever possible, so this new offering could not come at a better time,” said Eivan Shahara, Co-Founder and CEO of The Mint Dispensary. “As an essential service in Arizona, adding a drive-thru option allows us to better serve patients as we continue to keep safety top-of-mind for everyone.”

Fri
04
Sep

New Zealand’s Inaugural Hemp Ideation Challenge

 

New Zealand’s first ever ‘Hemp Ideation Challenge’ will kick off on September 5, an event designed to help drive the country’s hemp industry forward.

The initiative, which runs to the 18th of September, will use a “challenge-driven innovation process” to accelerate development of new hemp products, discover new uses for the plant and identify innovative ways to produce, process and manufacture it.

Fri
04
Sep

The Legal Cannabis Industry Is Creating A New Workforce Amidst The Pandemic

Despite being a nascent and still federally illegal operation, most states deemed cannabis companies and ancillary services as essential businesses when COVID-19 hit the U.S. Since that time, consumer demand has sustained – if not grown – and patients have been able to continue getting their medicine. Now, the legal cannabis industry is looking towards the future and “new normal” with expanding, legitimized workforces that have kept the industry alive during a national economic downturn.

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