Cannabis is a big industry in 2018, and even Trump and the DEA can’t put the genie back in the bottle. Legal cannabis companies around the country continue making progress, despite harsh opposition.
Here are the cannabis stories that matter for the second week of March.
by Janet Burns, Forbes
California hit the ground running with its recreational cannabis efforts in 2018. With cannabis businesses and consumers lining up around the state, Tom Lackey (R-Palmdale) and Rob Bonta (D-Oakland) introduced a bipartisan bill to lower state rec taxes from 15 percent to 11 percent for the next three years. This would end up as a 9 percent price drop for consumers, who currently pay around $15/gram or $306 an ounce for California cannabis.
by Tim Newman, Medical News Today
Coffee and cannabis are polar opposites in their effects on the endocannabinoid system. Researchers from Northwestern University in Chicago, IL published a three-month study involving 47 people in Finland. Metabolites in affect both the endocannabinoid and androsteroid system. More research is needed to determine the exact metabolites doing the work, however.
by Matt Lamers, Marijuana Business Daily
Former Coca-Cola and Molson Coors exec Torsten Kuenzlen sat down with MJBizDaily to discuss the competition alcohol companies face from cannabis. There’s room for synergy, however, as both industries face similar regulations, often from the same regulators. Even Kuenzlen is now heading Sundial Growers, a Canadian cannabis company.
by Steven M., Marijuana Stocks
Despite the U.S. government tightening regulations, cannabis companies are continuing to flourish. International Cannabrands Inc., TerrAscend Corp, and MariMed Inc are among the companies making strong gains this year, while more states mull over the idea of legal recreational cannabis. The industry is expected to continue growing throughout 2018.
by Ab Hanna, High Times
If you think your state’s cannabis laws are harsh, stay away from China, Malaysia, Saudi Arabia, and other countries, that are much worse. In these countries, getting caught smoking weed could get you killed.
by Greg Zeman, Cannabis Now
A new report from Cannabis Benchmarks, a cannabis commodity data services firm, cannabis prices in 2017 dropped 13 percent from 2016. It’s happening more gradually in states like Colorado and Washington with mature recreational cannabis industries. In states like California, oversupply is dropping prices, despite fears from wildfires. In fact, the state (the largest-producing in the country) cultivated 13.5 million pounds of cannabis, while consuming only 2.5 million of that. In addition, anyone familiar with the black market knows much more cannabis floods into the state from Oregon, Washington, and around the globe.
by Yvonne Wingett Sanchez, AZ Central
About 8500 pounds of medical cannabis is consumed by Arizona patients every month. The state has some of the most draconian laws (marijuana and cannabis are defined differently), but its finally starting to loosen laws regarding out-of-state patients. A three-judge panel in Arizona’s Court of Appeals ruled out-of-state cardholders may possess and consume cannabis within state boundaries, but not buy from dispensaries.