Medical marijuana gains foothold in conservative MississippiPosted by On


Mississippi’s journey into legalized cannabis is a tale of two sides, one marked by quick business startups and the other by slow patient enrollment.

The combo has created a particular challenge: too much cannabis and too few people allowed to buy it.

Mississippi’s relatively efficient approach to granting licenses to cannabis businesses led to hundreds of dispensaries to pop up across the state. However, the same efficiency hasn’t been seen on the patient side, where licensing has moved at a slower pace.

The imbalance between available cannabis and legal customers has caused prices to drop unexpectedly.

On top of that, a testing company had issues before the holidays, which resulted in a large portion of available cannabis products temporarily put on hold. This affected nearly 70% of the market, hitting new retailers the hardest as many had to briefly close shop.

Some told Green Market Report that the amount of product recalled was really closer to 80%.

According to Andrew Livingston, lead data analyst with Vicente, the situation is a classic example of an unbalanced market.

“There was some slower licensing of patients, and that created some dynamics where there was probably more supply than there were patients ready to purchase yet,” he said.

“Not more supply than demand – probably a lot of demand. But that demand wasn’t licensed yet to the system. That essentially caused a price decline.”

Despite solid growth in the number of patients registered with…

Original Author Link click here to read complete story..

News

Mississippi cannabisMississippi marijuana

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.