Billions of dollars in investment capital are waiting on the sidelines, watching the global marijuana industry boom. And that money will continue sitting the game out until Congress takes action to resolve the fact that marijuana is illegal at the federal level. That’s the core message from deep-pocketed investor Kevin O’Leary, a star on the […]
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Chart: Medical marijuana patient counts, sales tumble in Maine
With adult-use sales still at least a year out in Maine, the gray market for cannabis is burgeoning – largely at the expense of the state’s regulated medical marijuana industry. Sales of MMJ through Maine’s eight licensed dispensaries fell by over $2 million in 2017 – a 9% decline – on the back of an […]
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Week in Review: California-Canada union, New Jersey’s MMJ expansion & a GOP thumbs-up for hemp
A Canadian cannabis business buys three California MJ companies, New Jersey expands its medical marijuana program, and a key Republican goes to bat for industrial hemp. Here’s a closer look at some notable developments in the marijuana industry over the past week. Northern invasion The announcement that yet another Canadian company – Ontario-based CannaRoyalty Corp. […]
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Could IRS policy change strip marijuana trade associations of tax exemption?
The Internal Revenue Service issued a 280-page policy update in January, and buried deep inside is what appears to be a ban on future nonprofit organizations that lobby on behalf of the marijuana industry. That could make life a lot harder for advocacy groups trying to change cannabis laws across the nation – depending on how […]
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Wine-related firms look to uncork opportunities in marijuana
A growing number of companies that service the wine industry are now pursuing opportunities in the cannabis sector, hoping to generate new revenue streams. For marijuana businesses, that means a host of potential new ancillary companies to choose from, as well as added legitimacy from an industry that once appeared to be a potential enemy. […]
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Dried medical cannabis exports from Canada rise tenfold in 2017
Canadian licensed producers are exporting a record amount of medical cannabis in their drive to establish toeholds in burgeoning overseas markets.
Shipments of dried medical marijuana have soared since 2015, according to data shared with Marijuana Business Daily by Health Canada.
Just over 522 kilograms of dried cannabis was exported to four countries last year, more than 10 times the 44.8 kilograms shipped abroad in 2016.
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Alaska recreational cannabis supply on the upswing, wholesale marijuana still fetching high prices
Alaska’s recreational cannabis market is slowly maturing. Supply is catching up to demand, but wholesale and retail prices remain some of the highest in the nation among adult-use marijuana markets. According to several business owners in the state, prices for a wholesale pound of cannabis flower in the Last Frontier range from $2,800 to $5,000 […]
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Chart: US hemp production soars in 2017
Rising acceptance for hemp and CBD – combined with easing regulations at the state level – caused U.S. hemp production to surge in 2017. From 2016 to 2017, the number of acres licensed for hemp cultivation in the top 10 hemp-growing states grew by 140% – while the number of hemp producers doubled over the same […]
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April Issue
Amid growing criticism, NCIA chief Aaron Smith admits missteps and hopes to move the trade group in a new direction.Read the Issue