Cannabis Industry News | Week of March 18, 2022
Jessica C.
Cali ?? Oregon ?? TOP SHELF ??PREMIUM ?? *LIMITED RELEASES* CANNABIS COMMUNITY TAP IN
By: Jessi Cox
Los Angeles, California
Cannabis Convictions Are Down & Retail Cannabis Sales Are Climbing
There is no doubt that cannabis becoming more and more of a continuous thread in the tapestry of our lives.
From being a banned substance to becoming a billion-dollar industry, cannabis has sure come a long way. The legalization of cannabis for recreational and medical purposes paved the way for its boom in the market. To show the facts and figures related to this, we have rounded up a series of interesting cannabis industry statistics.
This new green revolution opened countless opportunities both for employment and investment. It has also made an impact on the economy.
There are even?POS systems?now dedicated specifically to cannabis retail.?During the COVID-19 lockdowns, there were many scenarios in different countries that indicated a rise in sales of cannabis to many anxious individuals. So much so that some places have deemed the cannabis industry as "essential" and I agree.?
So whether you’re planning to invest in this market or simply want to know more, this compilation of cannabis industry data is for you.
Federal Prosecutions For Cannabis Drop
US Federal prosecutions over marijuana dropped again in 2021, with fewer than 1,000 people charged in cannabis trafficking cases—yet another sign that the cannabis plant is now a much lower enforcement priority as the legalization movement scores wins in more states.
There were 996 federal marijuana trafficking cases last year, according to an analysis from the federal U.S. Sentencing Commission (USCC). Those cannabis busts account for 5.7 percent of the total drug-related cases that when through the federal justice system in fiscal year 2021. Read more.
Cannabis & Politics:
Washington Treasurer Pushes For Cannabis Banking Bill
Washington state Treasurer Mike Pellicciotti says cash-heavy marijuana stores are getting targeted daily.
OLYMPIA, Wash. — Washington state’s treasurer is working as a lobbyist this week to help cannabis businesses with safety and cash management options.
Mike Pellicciotti spent this week in Washington, D.C., meeting with members of the state’s Congressional delegation to help cannabis shop owners and their employees.
Pellicciotti, a Democrat, said the number of cannabis shops targeted by armed robbers is increasing, and he said the motive is simple.
“You rob the places where the cash is,” said Pellicciotti. “These robberies are tragic. But these robberies are also preventable.”
He blamed federal drug laws that prohibit national banks from getting involved with pot shops in Washington state. That causes most cannabis dispensary owners to make their stores cash-only, said Pellicciotti.
”You can't have a $1.4 billion a year transaction taking place in the state of Washington in cash and not have the risk of these type of robberies…It's time,” said Pellicciotti.
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Maggie Doyle, operations manager for three Green Lady Marijuana locations, said their stores found a Washington state-based bank that would allow for debit card transactions.
While her stores have reduced the amount of cash on hand, she said her employees are concerned for their safety.
"It's very frustrating because we are a business," said Doyle. "We're helping the community and we just want to be a member of that society, and we can't.
VANCOUVER, BC / ACCESSWIRE / March 17, 2022 /?Orchid Ventures, Inc. (the "Company" or "Orchid") (CSE:ORCD) (OTC PINK:ORVRF), a multi-state cannabis innovation company, today announced it has entered into a distribution agreement with Rokin Inc. (Rokin Vapes), a Majority Owned Subsidiary of Limitless Venture Group Inc. (LVGI).
Per the terms of the contract, Rokin Vapes will be purchasing a minimum of 200,000 cartridges per month from PurTec Delivery Systems by month four (4). Read more.
Many industries, especially the cannabis vape hardware side of the cannabis industry are preparing for the prospect and reality of manufacturing lead time extensions due to the Covid Outbreak in Hong Kong.
NOTE: If you are planning to order anything from China, expect extended lead times.
Super-Pharm To Independently Import, Sell Medical Cannabis In Israel
Israeli pharma chain?Super-Pharm?will independently import cannabis to sell for medical purposes in its chains, N12 reported on Thursday.
The hybrid strain named "Miracle Alien Cookies," imported from Portuguese agriculture company Agrivabe's specialized farm, will be branded and sold by Super-Pharm as Cannavix Miracle. Read more.
The cannabis industry continues to expand and stretch out to new markets reaching consumers who may have never had an opportunity to understand personally the medicinal value of the cannabis plant.
As an industry, each one of us is here for our own reasons and we each work toward our individual goals in unison. My advice to anyone starting out in the cannabis industry, or seeking information about cannabis in general is to keep your mind and heart open, but don't believe everything you hear, or see.
There are many people in the cannabis industry who have valuable information, and they want to share it with you and others so our industry grows and matures. Ask lots of questions and do your research, find out what types of strains you enjoy, keep a journal about events that you attend and write down your thoughts and questions to track them properly.
As always, reach out to me with any insights or questions!
Email: [email protected]
"Confidence is important, but remember that there’s a fine line between confidence and arrogance. For a salesperson to succeed, they must believe in the product or the service they’re selling" Forbes
2 年It will be better when banks accept cannabis business funds. Here in Seattle thefts and deaths are becoming more prevalent. We need a safe way to "store" money.