New York has $750m worth of Cannabis Stockpiled that Growers can’t Sell. Word to Those States Leaning Legal.

Story by E Helmore,

New York, NY November 19, 2022

Cannabis farmers have ‘an unclear path to market’ as the state has yet to approve retail dispensaries.

A strong smell of weed hangs over many New York neighborhoods, the result in part of cannabis decriminalization in 2019 – but cannabis growers in the state are at an impasse when it comes to getting their crops to market.

Photograph: Mary Altaffer/AP© Provided by The Guardian

Almost 300,000 pounds of the drug, worth as much as $750 Million, from last summer’s production at 200 state-licensed farms are stockpiled, without a place to be sold and in danger of deteriorating, according to a report said on Saturday.

Distribution issues are to blame. Although the New York City has vape shops selling marijuana and CBD products on almost every street, and there are mobile weed vans on Times Square, New York’s office of cannabis management , has just approved regulations regarding retail sales/after Legislation signed back in March 2021. WORD TO NEW STATE LEGISLATION. BE A PATIENT BUT BE PATIENT.

New York regulators have approved the first round of retail licenses that will kick off the legal adult-use cannabis market in the state.

The Office of Cannabis Management (OCM)

TAKING BOLD ACTIONS TO ENCOURAGE SOCIAL JUSTICE, PUBLIC HEALTH AND ECONOMIC DEVELOPMENT IN THE LIVES OF ALL NEW YORKERS

Office of Cannabis Management

The Marijuana Regulation and Taxation Act creates a first in the nation comprehensive regulatory structure to oversee the licensure, cultivation, production, distribution, sale and taxation of medical, adult-use and cannabinoid hemp within New York State.

Approved the applications of 36 individual businesses and nonprofit organizations that have been granted conditional licenses to open up the first dispensaries in New York. But several issues may delay the full implementation of cannabis legislation in the state.

The OCM announced the first round of conditional licenses for 28 individuals and eight nonprofit organizations yesterday.

Not one legal recreational dispensary has opened. Last week, a federal judge handed down an injunction that blocked the state from handing out licenses in Brooklyn and areas of the Hudson Valley region after a lawsuit claimed that the state’s cannabis equity program violates the US constitution.

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