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DEA Delays Production Of Marijuana Drug As Potential Treatment For MS And Huntington’s Disease

By Nina Zdinjak

MMJ International Holdings, in collaboration with a specialty pharmaceutical solutions company, has been manufacturing gelatin capsule medicines based on compounds found in cannabis. The company will investigate these in clinical trials as potential treatments for multiple sclerosis (MS) and Huntington’s disease (HD).

The Providens, Rhode Island-based medical cannabis research company had entered into a supply agreement with MMJ BioPharma Cultivation for them to supply strain specific marijuana plants for further processing to potentially obtain FDA approval for its drug.

The Connection Between Cannabis And Multiple Sclerosis
Photo by FilippoBacci/Getty Images

Problems With The DEA

MMJ BioPharma Cultivation applied for a DEA bulk manufacturing registration in 2018. The DEA application process is being delayed for years for reasons unknown. The DEA delay has negatively impacted the progression of the drug development for patients suffering from MS and HD.

RELATED: Effectively Treating Multiple Sclerosis With Cannabis Oil And Minimal Side Effects

“As MMJ International Holdings continues to advance to its clinical trials, these DEA delays are unprecedented,” stated Elio Mariani, PhD, MMJ’s executive responsible for research and development. “The statutory mandate of the DEA is security and divergence and to facilitate the manufacturing of pharmaceuticals to help patients suffering from chronic disease.”

Duane Boise, CEO of MMJ International Holdings commented, “MMJ’s clinical trials will provide patient dosing, safety, and efficacy data to the FDA to prove that cannabis can treat essential tremors, a neurological disorder that causes involuntary shaking. We firmly believe that our MMJ oral gel cap medication, containing the marijuana plant’s unique pharmacological properties, will be FDA-approved as a safe and effective drug.”

RELATED: Cannabis For Tremors — What’s Working Right Now And What’s Not

MMJ International Holdings in 2019 was given DEA clearance to import cannabis-based products into the U.S. from Canada, a process that required the cooperation of multiple governmental agencies, including the FDA and the U.S. Drug Enforcement Agency (DEA) and Health Canada.

To date, five approved entities are currently listed on the DEA website but none are manufacturing a pharmaceutical such as MMJ International Holdings with filings with the FDA to perform clinical trials.

This article originally appeared on Benzinga and has been reposted with permission.

Is The Cannabis Industry Still Welcoming To Females? Was It Ever?

It’s no secret that as the legal cannabis industry grows, the rate at which women are entering the industry has declined.

By Maureen Meehan

In celebration of International Women’s Day and to kick off Women’s History Month, Higher Standards in partnership with Flower by Edie Parker, hosted a “Women In Weed” panel discussion at Higher Standards Chelsea Market in New York City.

“The panel of Women In Weed — outlaws, pioneers, entrepreneurs and advocates – told stories about heading out into uncharted territory with superhuman dedication,” Elana Frankel, founding editor of Woman and Weed, told Benzinga. “These women don’t mind working in high-risk, uncharted territory and it was clear the audience was ready to follow.”

cannabis smell terpenes
Photo by Sharon Mccutcheon / EyeEm/Getty Images

Panelists, in addition to Frankel, included Margaret Hancock, director of sales for Edie Parker; Mary Pryor, founder of Cannaclusive; Lulu Tsui, founder of On The Revel; and Sophie Saint Thomas, a published author. They talked about raising capital, sex and cannabis, and how to get started in the industry

“The evening had an energy, and it was the power of personal narratives that brought a better understanding to complex issues,” added Frankel, who authored the book Women and Weed: How the Green Rush Is Changing Our Lives.

Where Have All The Women Gone?

It’s no secret that as the legal cannabis industry grows, the rate at which women are entering the industry has declined of late.

When Marijuana Business Daily released its “Women & Minorities in the Marijuana Industry” report in 2017, women held 37% of executive-level roles. That percentage has dropped to 22%.

Although, another report from The Arcview Group and National Cannabis Industry Association confirmed that companies led by women are more profitable and produce more than twice the revenue per dollar invested than those without them.

RELATED: Women And Minorities Still Very Much Underrepresented In Cannabis Industry

A Women in Cannabis Study (WICS), founded and led by Jennifer Whetzel of Ladyjane Branding, began compiling data in 2019 from more than 1,500 women and nonbinary participants. The study noted that women are deeply interested in bringing their skills, knowledge and wisdom into the newly legal industry but face barriers to entry including common challenges such as sexism, harassment, lack of support and benefits, difficulty obtaining funding, low pay and stigma.

marijuana dispenary
Photo by Zummolo/Getty Images

Despite an impressive number of female founders and owners, only 11% of respondents said they believe the cannabis industry is equitable.

Rosie Mattio, founder and CEO of Mattio Communications, says that 2022 will be a defining year for female leadership in cannabis.

RELATED: Setting Equal Standards For Women In The Cannabis Industry

“The cannabis industry cannot reach its full potential without women leading the charge as well,” Mattio said, noting that while female leaders are currently at the helm of some of the most influential cannabis companies, there is still a huge imbalance.

“Low rates of female and minority participation is a pervasive issue within cannabis, and female leaders are tackling these glaring disparities through their own businesses,” Mattio wrote in Rolling Stone.

 This article originally appeared on Benzinga and has been reposted with permission.

5 Great Concentrates For Beginners

There really is no reason that you should be afraid of concentrates — as long as you start small and slow.

Cannabis concentrates have been getting more popular over the last few years because of their incredible potency, which you can’t find in other cannabis products.

But with the staggering amount of concentrate types in the market, navigating it can be overwhelming for a first timer. Whether you are a medical marijuana patient or a recreational user, there are many benefits to using concentrates most especially the fact that you need significantly less to feel its effects, and it can save you money.

marijuana concentrate
Photo by Cappi Thompson/Getty Images

Concentrates is actually a broad term to refers to many cannabis product types but one thing they all have in common is that it is a type of cannabis that’s been processed to a type of concentrate form. The single most common and widely used concentrate out there are the vape cartridges, but there are just so many more that you can explore.

More people are turning towards concentrates as opposed to traditional flower just because of their potency. You can also consume them in so many different ways: dab it, smoke it, and even eat it. But no matter which concentrate you decide to go with, it’s always critical to remember that you should start slow. It is seriously potent and it’s far too easy to get too high that it could actually ruin the experience. Gradually work your way up until you know the right dose that works for you.

Having said that, here are the best concentrates for beginners to try:

  • Kief: Keif, or dry sift, is made by extracting the trichomes from the cannabis buds. This is a great concentrate to start with especially if you already smoke cannabis flower and want to take things another level up because it’s got way more THC in each gram compared to flower but still isn’t as potent as other concentrates.

The trichomes of the cannabis flower are where you can find the biggest concentration of THC as well as CBD and other terpenes. You can make your own kief if you have a 3-piece grinder; the third component is critical for collecting the flower leftover, which is essentially what kief is. Then once you have it, you can mix the kief or sprinkle it into your joint or bowl. However, if you want to make it even more potent, press it to create hash which you can smoke on its own.

  • Shatter: Shatter is an extremely common cannabis concentrate, and easily the most accessible. Shatter became really popular for its high THC levels which go anywhere from 80% upwards, while standard cannabis flowers average at 25%.

Shatter is easily recognizable because it looks like glass, and it has an amber or yellowish color. It’s created by covering cannabis buds with butane or another solvent, afterwhich it goes through purging to get its texture. You can consume shatter by using a vaporizer made specifically for concentrates, though more seasoned users turn to dab rigs to get the most out of its potency. Again, since shatter contains high THC levels, you don’t need much for a strong high.

RELATED: Essential Guide To Understanding Marijuana Concentrates

For beginners, shatter can be beneficial since you can break it apart into smaller pieces suitable for dabs.

  • Hash: Hash is a very popular and versatile cannabis concentrate. There are even some countries that are known for producing quality hash, such as in Morocco, where it is part of their culture and it’s more popular than bud or flower. Hash is essentially a solid block of kief pieces which are pressed together.

Depending on the extraction process, hash varies in color and shape. Hash is highly recommended for beginners because it’s milder. While some concentrates can have THC levels of 80% or 90%, hash ranges from 30% to 60%. Another reason why hash is more appealing to first-time cannabis concentrate consumers is that it’s easy to use: it crumbles when it’s lit using a lighter, so you can just take the smaller pieces and add them to bowls or joints.

RELATED: Marijuana 101: Dabbing Wax Vs. Vaping Wax

Some people like to mix it with cannabis flower or even tobacco. But some vaporizers in the market allow you to smoke hash for a smooth, strong kick. There are also many varieties of hash in the market including pressed ice hash and bubble hash to name a few.

  • Budder: Also known as batter or badder, this type of concentrate is unique because of its malleable texture that tends to resemble cake frosting. However, depending on the variety they can look different especially with their textures and color because they are made with various extraction methods as well as starting materials. Some have the same color as butter while others can be olive green. Meanwhile, some budder is stickier but other varieties tend to be more crumbly.

Budder is consumed through dabbing since this process enhances its potency. However, there are some cannabis users who prefer to sprinkle them on top of a blunt or bowl, though it can also be vaped.

  • Live resin: For cannabis consumers looking for a truly flavorful experience, you can’t go wrong with live resin. It’s made with a unique process requiring freshly grown cannabis to be flash-frozen before they are extracted. These buds are then delicately extracted that carefully ensures its terpenes and cannabinoids are well preserved, while leaving you a product that is highly concentrated.

The drying and curing phase of cannabis usually ends up losing most of its flavorful and fragrant terpenes, which are responsible for its taste and flavor. But making live resin means that these steps are skipped entirely so you can truly enjoy delicious flavor when vaping resin.

Many people are afraid of trying concentrates, however, there really is no reason that you should be afraid of them as long as you start small and slow. With this guide, we hope we’ve helped you narrow down the ideal concentrates to start your journey with.

April 19: Leading Psychedelics Investing Conference Lands In Miami, Hosted By Benzinga

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The Benzinga Psychedelics Capital Conference will feature a suite of the top minds in the psychedelics space.

The first Benzinga Psychedelics Capital Conference, the premier gathering of psychedelics industry leaders and forward-thinking investors, is coming to the Fontainebleau Miami Beach on April 19, 2022, in Miami, Florida.

Enjoy exclusive opportunities for curated networking and unparalleled access to private deal flow at an event hosted by Benzinga, a financial news and data company recently acquired at a $300 million valuation.

Join Benzinga for a day full of unique networking opportunities, exclusive industry insights and a chance to be in the room with the leaders taking psychedelics to the next level.

psychedelics
Photo by Merlin lightpainting from Pexels

The Speakers

The Benzinga Psychedelics Capital Conference will feature a suite of the top minds in the psychedelics space.

Keynote speakers include Kevin O’Leary, Chairman of O’Shares Investment Advisers and host of ABC’s Shark Tank, and Klee Irwin, CEO of natural products giant Irwin Naturals.

Also presenting at the conference will be:

  • Tim Schlidt, Co-Founder and Partner of Palo Santo
  • Rob Barrow, CEO of MindMed
  • Dustin Robison, Managing Partner of Iter Investments
  • Lindsay Hoover, Partner of JLS Fund
  • Dr. Joseph Tucker, CEO of Enveric Biosciences
  • Natalie Ginsberg, Global Impact Officer of MAPS

“We’re glad to welcome the burgeoning psychedelics industry into Benzinga’s growing ecosystem of events. We’ve seen cannabis businesses raise hundreds of millions of dollars at our Cannabis Capital Conferences and it’s our pleasure to open this possibility to businesses working to develop and establish psychedelics as the new paradigm shift in mental health treatment,” said Chief Zinger Jason Raznick.

Click here to register for the full In Person Benzinga Psychedelics Capital Conference experience, featuring networking, one-on-one meetings, access to investors, and more.

Secure your spot now and also gain full access to the Benzinga Cannabis Capital Conference happening at the Fontainebleau Miami Beach on April 20-21, 2022. Dual Event Passes are available.

Why Attend The Benzinga Psychedelics Capital Conference

The first Benzinga Psychedelics Capital Conference is a natural spinoff from the now-classic Benzinga Cannabis Capital Conferences, which have already featured numerous panels and presentations from key representatives of the psychedelics space, including leaders from:

  • MindMed (NASDAQ: MNMD)
  • Enveric Biosciences (NASDAQ: ENVB)
  • Mydecine (NEO:MYCO)(OTCPINK: MYCOF)
  • Novamind (CSE:NM)(OTCQB: NVMDF)
  • Numinus Wellness (TSX:NUMI)(OTCQX: NUMIF)
  • NeonMind Biosciences (CSE:NEON)(OTCQB: NMDBF)
  • Entheon Biomedical (CSE:ENBI)(OTCQB: ENTBF)
  • Cybin (NYSE: CYBN)

After 13 extremely successful cannabis editions in Toronto, Chicago, Detroit, New York and Miami, the Benzinga Psychedelics Capital Conference will feature all the core components of a classic Benzinga event, including keynotes, panel discussions, fireside chats, networking spaces, company presentations, and investor and celebrity appearances.

“Benzinga has always held a keen interest in emerging industries and we believe Psychedelics is another sector poised for growth. We’re thrilled to welcome the executives, investors and analysts at the forefront of this exciting industry to Miami on April 19th. We’re even more excited to give our audience the platform to engage with these leaders directly,” comments Patrick Lane, Executive Vice President of Partnerships at Benzinga.

New To Weed? This Is The Only Guide You Need

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The internet is filled with marijuana facts. Here’s your one-stop for all the information you need.

Entering the world of cannabis without a guide can be confusing. Most people learn by trial and error, or with the guidance of a friend and mentor, who provides a guiding hand for most first-time experiences.

Fortunately, marijuana has never been easier to access. Even if you’re alone and intimidated, there are plenty of places to turn to for information, and many options available for first-timers, whether they’re interested in smoking, edibles, vaping, dabbing, and more.

What it does

Photo by RODNAE Productions from Pexels

There’s a lot to marijuana, but for starters, it’s a great tool for fun and for medication. People turn to weed to boost creativity, ease social anxiety, relax, work out, improve their focus, and more. The list is truly endless, with marijuana boosting your focus and fun and making your days more productive and like they last longer.

Marijuana can also be used to replace habits that harm your body, like consuming alcohol, smoking nicotine, and replacing the use of opiates and sleeping pills.

Medicinal effects

marijuana glass pipe
Photo by Charles Wollertz/Getty Images

RELATED: How To Make Your Weed Taste Better

Medical marijuana is earning support from states all over the country. Research suggests that the plant can be used to control stress, provide pain relief, improve appetite, help people cope with ADHD and anxiety, and more.

It’s important to know that while many patients and doctors swear by marijuana’s effectiveness, there’s not enough research on the matter to prove that these results are definitive. The good news is that marijuana’s negative side effects, such as dry mouth, dizziness, and fuzzy brain are minor and temporary.

Types of marijuana

rolling a marijuana joint
Photo by Kampus Production from Pexels

RELATED: Why You Should Be Mixing Your Cannabis Strains

There are different types of marijuana and different compounds present in the plant. Sativa, indica, and hybrid strains are a category limited to the physical look of the plant, although a lot of cannabis users swear by its effects and how different they are. CBD is a cannabis compound but a lot of people consider it a type of marijuana.

Sativa stimulates the mind and senses, working best when paired with an activity, like working out, having a fun conversation, or doing anything energizing. Indicas stand on the other end of the spectrum, producing a relaxing and anxiolytic effect. Hybrid strains are a mix of sativa and indica, producing mixed results.

CBD is a cannabis compound, like THC. Unlike THC’s psychoactive effect, CBD is mostly medicinal. It produces no “high” feeling and results in long-lasting muscle, pain, and anxiety relief.

How to consume

Nowadays there are a million ways to consume cannabis. While there’s the traditional way of smoking marijuana (pipes, joints, and bongs), there are also tons of new options. With every new year, there are new vape pens, edibles, concentrates, and topicals. L

Vaporizers

Photo by LexScope via Unsplash

RELATED: 5 Marijuana Hacks To Make The Most Of Your Experience

These are discreet and comfortable, filled with cartridges that vaporize marijuana instead of combusting it, like joints and pipes. With a vape pen you won’t have to learn how to roll a joint or how to pack a bowl. They produce immediate effects that will stay in your body for a couple of hours.

Edibles

weed brownies edibles
Photo by Sarah Pender/Getty Images

Pot brownies, gummies, and all sorts of weed foods purchased on dispensaries or through dealers enter this category. This method is discreet and takes its time to affect you with the THC entering your system through the stomach lining. If you’re a beginner it’s important to start with a low dose, preventing a bad high.

Topicals

All balms, lotions, creams, and patches fit this category. Topicals tend to produce results that won’t get you very high. Instead, they’re powerful medical tools, helping with pain relief, post-surgery recovery, and more.

Concentrates

These are cannabis extracts. They can be consumed through a vape pen or through a dab rig and can be consumed in the shape of wax, resin, and hash. When consumed via dab, the effects are strong and long-lasting.

US Senate Committee Directs FDA To Regulate CBD, Study Products On The Market

The U.S. Hemp Roundtable noted the Senate report also addresses several other hemp-related topics, including the allowable level of THC in hemp.

By Nicolas Jose Rodriguez 

Under Sec. 741 of Division A(p.120), the U.S. Senate Committee on Appropriations has requested for the U.S. Federal Drug Administration (FDA) to allocate funds and resources toward the establishment of a regulatory framework for all cannabis derivatives, including cannabidiol (CBD), reported hempgrower.com

The “Cannabis and Cannabis Derivatives” section of the appropriations package states that within 90 days of enactment of the Act, the FDA shall issue a policy of enforcement discretion with regard to certain products containing CBD. “Such enforcement discretion shall be in effect until the FDA establishes a process for stakeholders to notify the FDA of use of CBD in products that include safety studies for intended use per product and makes a determination about such product.”

CBD oil
Photo by Cristi Ursea via Unsplash

RELATED: FDA Will Use Reddit To Learn About Cannabis-Derived Products Including CBD & Delta-8

In addition, the Committee requested that the FDA consider moving forward with research regarding CBD and encourages the agency to partner with academic institutions to expand sampling studies of CBD products on the market.

The U.S. Hemp Roundtable (USHR), a coalition of companies and organizations that advocate for hemp-friendly regulations, noted the Senate report also addresses several other hemp-related topics, including the allowable level of THC in hemp. The committee directed the USDA to determine a scientific basis for the current 0.3% THC limit.

The report encourages the USDA’s Agricultural Research Services to develop hemp germplasm, and production systems through research partnerships.

Finally, the report highlights the importance of increasing ways for hemp and CBD-related businesses to raise capital and requests the Financial Conduct Authority “work with the institutions under its jurisdiction to provide access to guaranteed loans for hemp producers and businesses.”

RELATED: Bipartisan Bill Urges FDA To Regulate Hemp-Derived CBD Foods

“While this report language is non-binding, it sends a loud message to FDA and hemp producers, advocates, and consumers that regulatory relief may be on the way as Congress now clearly recognizes its role in directing the agency ‘claiming stalemate‘ to provide it,” added USHR.

This article originally appeared on Benzinga and has been reposted with permission.

Scientists Are Finding Ways To Restore COVID-19 Loss Of Smell

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A group of scientists is conducting a trial for a treatment that’s capable of restoring people’s sense of smell and taste.

A group of researchers from Thomas Jefferson University in Philadelphia are trying to resolve one of COVID-19’s biggest mysteries. Loss of smell, also known as anosmia, is one of COVID-19’s most striking symptoms, one that has affected over 1.5 million people in the long term.

A statement published on the university’s website explains the research in-depth and the types of methods that experts are experimenting with in order to get participants to get their smell back.

RELATED: COVID-19 Can Shrink The Brain By This Much

Researchers Finally Understand How COVID-19 Affects The Sense Of Smell
Photo by Samantha Gades via Unsplash

The method that researchers have devised relies on implanting the patient’s plasma on the nose. Still, researchers wanted to come up with a way that was less invasive, providing patients with a topical application once a month for at least three months.

“I’ve dedicated over two decades to helping patients recover from the loss of taste and smell,” said Dr. David Rosen, MD, Otolaryngologist, Thomas Jefferson University Hospital. “It was very important to me and our team to explore less invasive options as this issue has become increasingly prevalent due to COVID-19. The results of phase I of the clinical trial have been promising and we are looking forward to phase II to further improve the treatment.”

The plasma that’s administered acts as a restorative agent, regenerating cells, tissue in the nose and the nasal tract, areas that were disturbed by the presence of the virus. While the research is still in its early stages, participants are already reporting symptoms of improvement.

In a study published this year, researchers finally understood why COVID-19 triggers episodes of anosmia. “Researchers discovered that the coronavirus does not infect brain cells. Instead, it attacks supporting cells located in the nasal cavity. As the infected cells shed the virus and die off, the immune system floods to the nasal area with immune cells. This activity inflames the area, disturbing smell receptors and completely disrupting how they normally work. It’s a sort of brain short circuit that can last for weeks,” we wrote in a previous post.

COVID-19 Loss Of Taste And Smell — How Long Does It Last?
Photo by Louis Hansel @shotsoflouis via Unsplash

RELATED: This Activity May Increase Antibodies After Getting Your COVID-19 Vaccine

While a loss of smell may not sound like the worse side effect of a deadly virus, its long-term presence greatly affects people’s quality of life, reducing their interest in food, causing a loss of appetite, and even facilitating depressive episodes.

For the time being, this experimental solution could provide an answer to the thousands of people who are still waiting to get their smell and taste back after losing it to a COVID-19 infection.

The Future Of Cannabis: Industry Experts Share Their Thoughts At SXSW

A number of the panels at this year’s event will focus on the cannabis and psychedelic space, including “The Cannabis Futurists, 5 Predictions for 2050.”

By Aaron Bry

Cannabis users and investors are constantly wondering what the future will hold for marijuana. Countries all around the world have legalized cannabis to some extent, but marijuana’s future remains uncertain. What will be the next way to consume cannabis? Will the U.S. legalize cannabis at the federal level? If so, when?

Faith Popcorn, a futurist known for her accurate track record of predicting trends, and Julian Cohen, the innovation chief at Canopy Growth Corp (NASDAQ:CGC), will speak on the main stage of South by Southwest (SXSW) about the future of cannabis.

woman lighting a marijuana joint
Photo by Kampus Production from Pexels

SXSW is an innovative festival/conference hybrid featuring live music, films, panels and speakers. A number of the panels at this year’s event will focus on the cannabis and psychedelic space, including “The Cannabis Futurists, 5 Predictions for 2050.”

Cohen and Popcorn joined Benzinga’s Cannabis Insider on Wednesday to preview their SXSW panel. Here are some of the highlights of their fascinating conversation.

One reason people use cannabis is to help improve their mood. Some users report feeling less anxiety or depression while using THC. Because of this, companies are innovating cannabis strains that have only certain desired effects, for example, a strain that makes you sleep, or a strain that keeps you focused.

“It’s really about picking areas of focus,” Cohen said. “There is pain, sleep and anxiety that are the main focuses. We’re doing research on sensuality, we’re doing some work in women’s health…are there things we can do for muscle recovery?”

This research and innovation make for a much better marketplace for consumers. Customers are able to pick and choose which products they want and believe will match their needs. Someone who uses cannabis for pain relief may not want the same cannabis someone else is using for anxiety.

RELATED: Will Weed Ever Be Federally Legal In The US? What The Experts Say

marijuana
Photo by RODNAE Productions from Pexels

RELATED: What’s Going On With Cannabis Industry Licensing In The US?

Another topic discussed on the show was the different use cases and products coming in the cannabis industry. Popcorn and Cohen shared their thoughts on the various types of use cases and products we could see in the future, including diffusing cannabis into the air we breathe.

“Stress being the number-one killer up there with heart disease, the idea that you can actually let down, I eventually think it (marijuana) will be pumped into rooms,” Popcorn said. “It could lead to fewer heart attacks, cancer. I’m seeing that as a future path.”

To watch the full interview click here. To learn more about Popcorn and Cohen’s SXSW panel click here.

This article originally appeared on Benzinga and has been reposted with permission.

Is The Cannabis Industry Inflation-Proof?

Inflation is continuing to affect other industries, but for now, cannabis consumers can enjoy being spared from it.

This article originally appeared on Cannabis.net and has been reposted with permission.

Just about everything these days is increasing in price: from food to utilities, and the crazy gas prices soaring due to the war in Ukraine, it can get difficult to keep up with costs.

Thankfully, cannabis prices seem to be going down — and this is fantastic news for consumers. Data from Headset, a cannabis analytics company, has shown that the prices for cannabis flower, vapes, and edibles have reduced on average by 16.7%, 12.4%, and 11.8% respectively when prices from January 2021 through January 2022 were studied. They analyzed sales taking place in California, Washington, Oregon, Nevada, Colorado, and Michigan.

Are Americans Ready To Invest In Marijuana Stocks?
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There are many reasons that contribute to this. For one, risk: if cannabis growers face a high risk of getting caught selling cannabis, then that would contribute to an increase in prices. However, cannabis is legal in most states already, which reflects in a price drop. Growers can legally and safely sell their product to brands as well as consumers directly.

Of course, supply and demand also has an impact on prices. Just because prices don’t increase doesn’t mean inflation isn’t happening; it simply means that there are other forces at work that help keep prices stable. There’s also the fact that the black market still exists (which has long been a cheaper option for consumers in pricey markets), plus taxes, so dispensaries and brands need to ensure that prices are still attractive enough.

In addition, it’s hard to just make a package size smaller while charging customers the same price the way manufacturers have done with other commodities like chocolate bars. This can’t be done as easily with cannabis where many categories of product are sold by either its THC/CBD content or weight, such as flower, edibles, and vape pens. When package sizes are reduced, consumers notice them immediately and they will then be so much harder to market and sell.

The cannabis industry did suffer during the height of the pandemic especially because of challenges spurred by the labor market, and supply chain issues. But the higher costs incurred by these were absorbed by the margins instead of increasing product prices at dispensaries.

Factors Affecting Price

Another report called “Price. It’s Complicated” by Deloitte Canada, BDSA, and Hifyre explains that “consumers are willing to pay a premium price for quality, and the laws of economics do apply to cannabis. But in other instances, price-related factors suggest there are several key differences. The price/quality relationship – in other words, the value – can be confusing. There is no national pricing. And branding does not (yet) play a big role.” The report also found that consumers use the THC and CBD levels of a cannabis product to determine its value, as well as the type of high it will produce which is determined by smell and taste.

RELATED: How Much Does Weed Cost?

It’s also important to note that location plays a role. The report stated that the same product costs differently in various states without clear explanation why. They indicated that 10mg Wana Sour Gummies were selling for $27.59 in Illinois for a 10-piece pack, $18.01 in Colorado, then in Oregon, just $8.03. Take note that some markets have also adopted certain practices that enable their loyal consumers to save money; in Washington and Colorado for example, if you buy more cannabis, you pay less. This kind of method encourages more frequent product turnover while motivating return customers to come back again and again.

So while the cannabis industry isn’t exactly inflation-proof, there are reasons why the price has been seemingly protected from the impact of inflation.

marijuana money
Photo by Olena Ruban/Getty Images

Changing Landscape

These things don’t mean that the prices of cannabis will always stay the same. Remember that the industry has an ever-changing landscape, and there are different laws in each county and state that will always have an impact on its distribution, legality, and growth. Many states are already mature, and with the coming years, many more will do so. Vice industries including tobacco, alcohol, and pharmaceuticals have been investing seriously into the cannabis market, which, in a few years, will transform the industry.

RELATED: Despite Inflation, Cannabis Prices Are Dropping

And just like any young industry, capital is required for cannabis businesses to continue growing. And since it’s still illegal on the federal level, cannabis companies don’t have the same banking benefits that other industries do. Raising capital is a struggle and it is expensive, but thanks to low interest rates, it’s become easier to do so in the last few years.

The Federal Reserve did hint that they were intending to increase interest rates not once but thrice by the end of next year and this could severely impact how cannabis companies are going to be able to get capital for growing their businesses.

Bottom Line

Having said all that, how does one know if you’re paying too much for your habit? Well there really is only one way to tell: Do you feel like you’re getting value from the monthly expenses you’re shelling out for cannabis? If your answer is no, then it’s probably too much.

Inflation is continuing to affect other industries, but for now, cannabis consumers can enjoy being spared from it. But the cannabis industry is still on its way to expansive growth, and it will eventually become more socially acceptable to use in the years to come. But despite that, it will continue to face challenges resulting in a volatile environment.

This article originally appeared on Cannabis.net and has been reposted with permission.

6 Cannabis Experiences To Explore In Legal States

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Cannabis tourism is growing, with states providing guests with a variety of weedy and awesome experiences.

Cannabis tourism is only just beginning. While the plant remains illegal on a federal level, many states have enabled medical and recreational programs, creating a new industry that’s already produced large sums of money.

Tourism boards in legal states are providing special opportunities for cannabis users across the spectrum. It doesn’t matter whether you’re a seasoned stoner or someone who’s curious about experimenting, there’s an experience here for everyone.

Visit cannabis museums

marijuana cannabis joint
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Now that cannabis is legal, there are all sorts of places that memorialize it and celebrate it. In Vegas, there’s the Cannabition Cannabis Museum, the first interactive museum of its kind. Guests can peruse cannabis art installations and have fun, while also learning about the history of recreational and medicinal cannabis in the country.

If you’re still in the mood to learn, there’s the International Church of Cannabis, located in Denver. Founded in 2017, this location is home to the Elevationists, a group of people who believe the use of cannabis helps them get in touch with their best selves. While it sounds a little weird, there’s no need to convert to a new way of thinking in order to enjoy the church’s weedy decorations, which include murals and elaborate walls.

Visit dispensaries

marijuana dispenary
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For those of us who grew up with marijuana fear-mongering, the existence of dispensaries remains amazing. These spaces feature a variety of products and experts that feel leagues away from buying weed of unknown origins from your friend’s college dealer.

Take a tour through a marijuana grow facility

Despite Inflation, Cannabis Prices Are Lowering
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RELATED: What Weed Tourism Looks Like In 2022 And Beyond

An even more impressive experience is to tour a marijuana grow facility, where experts will show you the grounds and take you through marijuana’s cultivation process. This is a fun and informative experience to have, whether you’re looking for a good time or want to learn how to grow your own plant at home.

Enjoy professional weed and dinner pairings

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Weed and food is the ultimate combination. Food prepared by professionals and paired with the right type of weed is something every weed enthusiast should experience at some point in their life. While every legal state has its own set of rules when it comes to these cannabis experiences, most rely on preparing delicious food and pairing it with the right strain, much like a sommelier pairs wines with meals. In Colorado, there’s the company Cultivating Spirits and in Los Angeles, there’s The Cannabis Supper Club. I’m sure there are more options coming out every couple of months.

Book a weed vacation

Summer Wine Vacation
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Cannabis bead and breakfasts are becoming more popular, providing people with the opportunity to book a beautiful getaway where they can smoke and consume weed to their hearts’ content. We wrote a detailed guide about locations that can serve your purposes, all located on the West Coast.

Cannabis paint classes

Photo by Darrin Harris Frisby/Drug Policy Alliance

Lastly, there’s nothing more accessible than a cannabis paint class. Much like drinking wine and painting a project, these experiences provide you with a canvas, an instructor, and a good time. Puff, Pass and Paint is one of the most popular of these experiences, providing you with materials for your art and an instructor, who’ll guide you along the way. While they can’t provide you with cannabis, you’re encouraged to bring your own. They have locations and classes in a variety of states, including Portland, California, New York, Vegas, and more.

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