The Massachusetts Cannabis Control Commission (CCC) has voted to implement a four-month moratorium on new cannabis cultivation licenses. Axios reports.
of licensing freezewhich begins June 16, aims to address a trend of falling cannabis prices in the state. The average price of cannabis flowers recently dropped to about $14 for an eighth of an ounce.
The changes will not affect cannabis retailers or microbusiness applications that participate in the state’s social equity program. The licensing freeze will also not apply to existing operators who may wish to increase or decrease their cultivation cover.
The commission voted 3-1 to approve the changes, with Commissioner Bruce Stebbins casting the lone no vote.
Meanwhile, Massachusetts lawmakers recently passed a bill that contains big changes in the cannabis industry’s regulatory structure that includes doubling the purchase limit for adult use and shrinking the CCC to just three members.
