Legal Cannabis Revenue Falls Short Of Projections, But Analysis Comes With Caveats
For one, cannabis sales go up significantly in March in other states with legalized sales, perhaps because of warmer weather.
Sacramento Bee:
Analyst: California's Cannabis-Revenue Projections High
In the first two months of cannabis legalization, consumers bought an estimated $339 million worth of marijuana products from retailers in California, 13 percent less than state projections, according to a leading analytics firm. The state has estimated that retail cannabis sales for the remaining six months of this fiscal year would be $1.15 billion, or $383 million every two months. (Branan, 4/10)
In other news —
Sacramento Bee:
Forget The Emerald Triangle. The Central Coast Is Becoming California's Weed Hotspot
The law contained protections for small farmers worried they would be crushed by big agricultural interests. But in an unexpected move, the California Department of Food and Agriculture scrapped a planned 1-acre cap on cannabis farms in November. No place has benefited more from that change than the Central Coast, which covers Santa Barbara, San Luis Obispo, Monterey and Santa Cruz counties. (Branan and Vaughn, 4/11)
KPBS:
UC San Diego Doctor Uses Cannabis To Treat Pain
In recent research from UC San Diego’s Center for Medical Cannabis Research, doctors say they are finding cannabis useful in treating chronic pain and weaning people off of opioids. But they are running into barriers when it comes to advancing that research. (Hindmon, 4/10)