It’s the opening chapter of California’s new era of regulated cannabis, and already a market disruption is underway.
Generally, retailers have ample product on store shelves for both adult use and medicinal cannabis consumers, but some brands are now in short supply. Prices are mostly stable, though new state taxes on legal purchases have meant sticker shock for customers.
Meanwhile, the black market appears to be thriving anew—invigorated by dissuasive taxes on growers, plus licensing fees and frustrations over difficulties of entering the legal economy. If more cultivators aren’t licensed by the state, manufacturers for cannabis concentrates for vape pens, waxes, and infused edibles fear they may run short of their critical production component – leafy cannabis trim – by summer.