Thursday, February 2, 2023
MJ News Daily
  • Home
  • Popular Weed Strains
  • Best Feminized Seeds
No Result
View All Result
  • Home
  • Popular Weed Strains
  • Best Feminized Seeds
No Result
View All Result
MJ News Daily
No Result
View All Result
Home Cannabis News

Untapped Southern Markets Face Uphill Battle

MJ News Daily by MJ News Daily
January 7, 2023
in Cannabis News
0
Untapped Southern Markets Face Uphill Battle
1
SHARES
13
VIEWS

RelatedPosts

Snoop Dogg’s Death Row Cannabis reviewed

February 2023 Leafly HighLight: Cereal Milk weed strain

The South may be the last frontier for state cannabis legalization, but the region could be a boon for the industry once the floodgates open.

A report from cannabis consulting firm Global Go posits that Alabama, Georgia, Mississippi and Louisiana could provide value for entrepreneurs sitting on the sidelines of Florida’s limited vertical model — especially given Alabama’s approval of medical cannabis last May and further expansions in the other three state’s existing medical programs.

But the success has little to do with the “overall political leanings of (a state electorate),” said Tom Adams, principal analyst and CEO of Global Go and author of the report “Georgia, Alabama, Mississippi, and Louisiana: A Second Shot at Southern State Cannabis Profitability.”

cannabis money
Photo by Anton Petrus/Getty Images

Instead, it has “everything to do with how liberally medical programs are regulated,” he wrote. Factors for that include:

  • Limits on types of products allowed.
  • Qualified conditions approved.
  • Rules for prescribing doctors.
  • Store count limits and local opt-out rules.

“Politics absolutely matters, but it’s because it affects these factors that really determine how successful a market can be,” Adams told Green Market Report.

Access is key, in part because cannabis consumption is notoriously underreported. For example, more Oklahomans signed up for their state’s laissez-fair medical cannabis program than admitted to using the product in surveys conducted before legalization.

RELATED: Cannabis Industry Faces Sobering 2023

In Louisiana, participation in the medical program also ballooned after the legislature passed a law to allow more retail sale of flower.

However, the fact that Alabama, Georgia, and Louisiana do not have ballot initiative processes remains a critical issue. Adoption and expansion of the programs depend on the will of the state legislatures — and lobbying and educating elected social conservatives in the Bible Belt on the cannabis question has proved sluggish.

Growth Potential

“Still, even if the region only sees Missouri’s $33.08 per capita spending in 2021, just over half Florida’s level, the combined markets could grow quickly to nearly $800 million,” Adams wrote.

Andrew Livingston, director of economics and research for Denver-based cannabis law firm Vicente Sederberg LLP, noted that the word “potential” is key when it comes to speculating growth stories.

“All the states have huge potential,” he told Green Market Report. “They just need to either pass medical cannabis laws or take their existing limited medical cannabis laws and expand them to allow patients to fully come into the markets.”

Livingston noted that state-level medical cannabis laws help demonstrate the legitimacy of cannabis patients and business.

RELATED: This State Will Revisit Medical Cannabis Legalization Next Year

“That legitimacy changes the lives of voters at the state level and those state level voters put pressure on federal legislators to evolve and recognize,” he added.

He believes that Mississippi, which permits flower sales and does not cap the amount of licenses operators can hold, “will show over time the potential of a market that allows the patients to truly actualize their demand.”

marijuana money
Photo by OlegMalyshev/Getty Images

Pressure from Florida

Despite tight Southern medical markets, the possibility that Florida will adopt adult-use consumption next year could open the floodgates for cross-border traffic and potentially persuade neighboring legislatures to open up their markets to capture that revenue for state coffers, Adams said.

“Because, boy, if Florida goes adult use, and anybody from Alabama, Mississippi, or Louisiana can go down there and get cannabis, that’s just money left on the table by the legislatures of those states,” he  said.

“The big move will happen when Florida goes adult and and suddenly, there’s hundreds of millions of dollars in tax revenue at stake.”

[Original Source]

Previous Post

These States Ended 2022 With Strong Marijuana Sales (Retailers Sold Billions In Cannabis!)

Next Post

RISE Connecticut Recreational and Medical Dispensary FAQ

MJ News Daily

MJ News Daily

Next Post
RISE Connecticut Recreational and Medical Dispensary FAQ

RISE Connecticut Recreational and Medical Dispensary FAQ

  • Trending
  • Comments
  • Latest
Study: Medical Cannabis May Result In Less Opioid Dependence For Advanced Cancer Patients

Study: Medical Cannabis May Result In Less Opioid Dependence For Advanced Cancer Patients

August 8, 2022
The Top 6 Ways to Identify Fake Cartridges

The Top 6 Ways to Identify Fake Cartridges

August 25, 2022
Is Delta-8 THC Actually Synthetic Or Natural? (And Why It Matters!)

Is Delta-8 THC Actually Synthetic Or Natural? (And Why It Matters!)

August 26, 2022
What a first-timer should know before visiting an L.A. dispensary.

What a first-timer should know before visiting an L.A. dispensary.

October 14, 2022

The secret of Runts, fake banana terpenes, and approved solvents

0

Toke or Broke? Keeping a Job With a Medical Card

0

Got the Munchies? 5 Recipes You Can Make Right Now

0

How To Say Popular Weed Words And Phrases In Sign Language Part 2

0
Snoop Dogg’s Death Row Cannabis reviewed

Snoop Dogg’s Death Row Cannabis reviewed

February 2, 2023
February 2023 Leafly HighLight: Cereal Milk weed strain

February 2023 Leafly HighLight: Cereal Milk weed strain

February 2, 2023
5 Surprising Reasons To Add Herbs To Your Weed

5 Surprising Reasons To Add Herbs To Your Weed

February 2, 2023
Poll: Majority Support Legalization in Hawaii

Poll: Majority Support Legalization in Hawaii

February 2, 2023

Recent News

Snoop Dogg’s Death Row Cannabis reviewed

Snoop Dogg’s Death Row Cannabis reviewed

February 2, 2023
February 2023 Leafly HighLight: Cereal Milk weed strain

February 2023 Leafly HighLight: Cereal Milk weed strain

February 2, 2023
5 Surprising Reasons To Add Herbs To Your Weed

5 Surprising Reasons To Add Herbs To Your Weed

February 2, 2023
Poll: Majority Support Legalization in Hawaii

Poll: Majority Support Legalization in Hawaii

February 2, 2023

Other MJ Related Sites:

High Yields

420 Daily Newz

Recent News

Snoop Dogg’s Death Row Cannabis reviewed

Snoop Dogg’s Death Row Cannabis reviewed

February 2, 2023
February 2023 Leafly HighLight: Cereal Milk weed strain

February 2023 Leafly HighLight: Cereal Milk weed strain

February 2, 2023
No Result
View All Result
  • Home
  • Popular Weed Strains
  • Best Feminized Seeds

© 2021 MJ News Daily