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OLCC releases biennial report to Oregon’s Legislature: Legal Marijuana Remains in Abundant Supply

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PORTLAND, Ore. – The Oregon Liquor and Cannabis Commission (OLCC) today submitted to the Oregon Legislature the 2023 Marijuana Supply and Demand report reflecting the quantity of cannabis available in Oregon’s legal commercial market. This is the fourth biennial report produced by the OLCC, and it shows a similar pattern as in previous reports, that supply still outpaces demand.

In 2022, the demand for legal cannabis products was 63% of supply, compared to 52% of supply in 2021. This difference is likely a reflection of cannabis producers planting less crop in 2022 after a record harvest in 2021 led to plunging prices.

While the self-correction in the market has led to a closer balance in annual supply and demand, it also reveals the precarious economic position of Oregon’s cannabis industry. Declining prices combined with slower growth in consumer purchasing resulted in the first-ever decrease in sales, from $1.2 billion in 2021 to $994 million in 2022.

Declining wholesale and retail prices for usable marijuana can be attributed to the build-up of supply from previous years, and the slowdown in converting usable marijuana (flower) into more shelf-stable THC products like edibles, oil and tinctures. The leftover supply of both usable marijuana and value-added THC products is likely to continue the downward pressure on prices.

In a letter to legislators that accompanied the report, OLCC Executive Director Steve Marks observed that while steady improvements have been made to improve regulatory standards, reduce economic harm to the industry, and poise the state to be ready for legal inter-state commerce, federal barriers remain that continue to stifle the industry.

“Federal regulatory activity remains uncertain, and we must consider what public policy is needed to protect this nascent industry from an existential crisis in the face of federal inaction,” said Marks.

As indicated in previous Supply Demand reports Oregon’s recreational marijuana market has been able to withstand the whipsaw up and down cycles of the market. In the market’s current status, low prices have attracted consumers from the illicit market, which was an objective of legalization. However what’s been good for the consumer has put pressure on cannabis businesses to survive on low margins.

“We will look to the Governor and Legislature during the 2023 legislative session for direction on how to further strengthen our regulated marijuana system by providing stability to the industry, maintaining our obligations to keep our communities and the public safe and secure, and fulfilling our consumer protection responsibility to Oregon’s cannabis users,” said Marks in the conclusion of his letter to legislators.



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Massachusetts: Office of the Inspector General Publishes Press Release Re Appointing A Receiver To Manage State’s Cannabis Commission

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Independent journalist Grant Smith Ellis  writes today to linked in

Press release from Massachusetts Inspector General confirms that a decision in June of 2024, by three CCC Commissioners, to strip the powers of acting agency Executive Director Debbie Hilton-Creek led to today’s emergency hearing request on Beacon Hill.

 



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Movie Time In Oregon. Special Screening of Frenchy Dreams of Hashish

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CHEECHABLE & OG EMPIRE PRESENT:

A SPECIAL 7/10 with FRENCHY CANNOLI! We are pleased to announce a special screening and Oregon premier of the movie Frenchy Dreams of Hashish, a documentary by Jake Remington. Frenchy Dreams of Hashish showcases master hashishin Frenchy Cannoli’s lifelong pursuit of perfect hashish and highlights the ethos of sustainable, sun-grown cannabis. Join us as we celebrate the art of making hash and honor the late master, Frenchy Cannoli. Get your tickets here!

 



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Curaleaf Start Process Of Getting Their Claws Into The UK’s National Health System – With Former MP (Resigned Today 30/5/24) As The Front Man

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It’ll take a while but the business plan to get Curaleaf products available via the NHS starts here…and the front man is  now former Conservative MP George Freeman

See the press release dated 28 May (scroll down)  about his involvement and and what a surprise

30 May 2024

George Freeman is no longer a Member, but was most recently the Conservative MP for Mid Norfolk, and left the Commons on 30 May 2024.

https://members.parliament.uk/member/4020/career

 

 

 

Positioned at the heart of the life sciences sector, the Cannabinoid Research & Development Group UK is a new research strategy group led by academics, researchers, clinicians, patients and industry.

The group will propel scientific research and development of pharmaceutical cannabinoid-related products in the UK.

Our ambition is to develop and implement a comprehensive strategy to transform the UK into the global leader in cannabinoid research and medicine development.

We will build a robust ecosystem by integrating universities, research institutions, investors, businesses, and the NHS – driving innovation and development, nurturing top talent and fostering advances in healthcare.

 

 



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