New York to Allow Cannabis Farmers’ Markets

May 30, 2023 · Ganjapreneur

In a move aiming to address the state’s cannabis supply chain glut, the New York Office of Cannabis Management (OCM) announced last week that industry operators will be allowed this summer to host cannabis farmers’ markets in order to sell more product, according to a NY Cannabis Insider report.

The plan, announced by OCM Director of Policy John Kagia during a meeting with the Cannabis Association of New York, will see the state’s conditionally licensed growers and retailers team up to organize the farmers’ markets’ assembly and operation. Ultimately, the markets should create an opportunity for cultivators to sell their oversupply as there are currently just 13 operational retailers in the state, and shelf space is too crowded for the millions of dollars worth of cannabis products that the state’s growers have produced, the report said.

Regulators still have to finalize details for the farmers’ market program and that process could take at least a month, the agency said.

The state’s adult-use cannabis industry has so far been wrought with legal challenges and delays, which prompted at least one out-of-state company to cancel its New York expansion plans. Meanwhile, a recent MPG Consulting report found that the slower-than-expected adult-use cannabis roll-out could cost the state up to $2.6 billion in lost tax revenues over the next eight years.

Earlier this month, lawmakers dedicated $16 million of the state’s annual budget toward cracking down on unlicensed cannabis dispensaries. (Full Story)

In category:Business
Tags:
Next Post

No Bankruptcy Protection, Just Receivership for Cannabis Companies - Oregon's Chalice Farms Goes Belly Up

Oregon's leading cannabis company, Chalice, is grappling with a severe financial crisis that has prompted significant measures. According to the ‘Willamette Week’, the company, burdened by debts exceeding $35 million, has filed a request with the Multnomah County court to place…
Read
Previous Post

Opinion: What Main Street operators need to know about rescheduling or descheduling marijuana

Last fall, President Joe Biden called on the leaders of the U.S. departments of Justice and Health and Human Services to “review expeditiously” how marijuana is scheduled. The move opened the door to renewed speculation about how descheduling – or rescheduling – marijuana would…
Read
Random Post

5 Cannabis Laws to Watch in 2023

As we closed out 2022, we saw the federal government pass its first standalone cannabis law, the Medical Marijuana and Cannabidiol Research Expansion Act, with more possible federal reform on the horizon. On the state level, the industry has seen an…
Read
Random Post

2,600 Dispensaries and Now Adding Recreational Cannabis, What Could Go Wrong in Oklahoma?

In 2018, State Question 788 in Oklahoma made it illegal to use cannabis for recreational purposes, but it was allowed for medical use with a proper license. However, the citizens of Oklahoma will be voting on March 7th to decide…
Read
Random Post

Aeroponic cannabis cultivation offers benefits, but high-tech method is rare

Cannabis is typically grown in a medium, often a soilless medium such as rockwool or coco coir, or in living soil. Aeroponic cultivation eliminates that growing medium entirely: Exposed, hanging plant roots are misted directly with a solution of water and…
Read
Random Post

Opinion: Why MSOs should embrace hemp-derived delta-9 THC products

What if I told you that you could sell real cannabis edibles in traditional grocery, convenience and liquor stores in a few dozen states without being bound by local marijuana laws and regulations? What if I told you there’s a…
Read