debra borchardt

warning: Creating default object from empty value in /home/hemporg/public_html/news/modules/taxonomy/taxonomy.pages.inc on line 34.

Illinois: Medical Marijuana Program In Danger Of Failure

IllinoisMedicalMarijuana[RebootIllinois]

By Steve Elliott

Strict rules governing which patients qualify for the Illinois medical marijuana program, seen by some as the most restrictive such program in the nation, mean a low number of approved patients, and this could force some medicinal cannabis businesses to close just as the program is starting to get underway.

The Illinois Department of Public Health (IDPH) has approved only a small amount of illnesses meeting the requirements for using medical marijuana in the state, reports Debra Borchardt at Forbes. Despite the fact that the Medical Cannabis Advisory Board for the program had recommended that 11 additional conditions be added to the list, in September the IDPH refused to expand the list.

The advisory board came back in October with a list of eight conditions; if the new list is approved, it would lead to a much larger number of patients, and would ensure the success of the medical marijuana program and the viability of the businesses. Several chronic pain conditions, osteoarthritis, autism, irritable bowel syndrome and post-traumatic stress disorder (PTSD) are on the latest list the board has recommended.

Colorado: Overcapacity Drives Down Marijuana Prices

WelcomeToColoradoMarijuana

By Steve Elliott
Hemp News

There's lots of weed in Colorado, man. In fact, there's so much marijuana, overcapacity in dispensaries is driving down prices. Retail cannabis prices have dropped for a year now, but seem to be stabilizing in the third quarter, according to a marijuana store survey by chief market strategist Nicholas Colas and Jessica Rabe, both with Convergex.

Colas surveyed retail pot stores in Colorado and fought that cannabis fell from $50-$70 for an eighth-ounce to $30-$45, reports Debra Borchardt at Forbes. An ounce fell from $300-$400 to the lower end of $300 an ounce. According to Colas, all his contacts said that more competition was the reason for the downward pricing pressure, as more dispensaries and grow facilities open.

Colas said there were 156 retail marijuana stores and 204 retail cultivation facilities at the start of 2014, according to the Colorado Marijuana Enforcement Division. "At the end of December 2014, there were 322 retail stores and 397 retail cultivations respectively," he said, representing roughly double the number at the beginning the year.

As of August 3, those numbers have increased to 385 retail stores and 496 retail cultivations, a 20 percent and 25 percent increase respectively.

Prices seem to be stabilizing, but Colas said some stores sell ounces for $200. The survey participants told him they had to lower prices to compete.

Syndicate content