Sales have fallen significantly since Illinois dispensaries unloaded a record $137 million worth of recreational cannabis products last December, raising concerns that limited supply and sky-high prices could be pushing consumers into the illicit market.
products last December, raising concerns that limited supply and sky-high prices could be pushing consumers into the illicit market.
Andy Seeger, a cannabis consultant who previously worked as an industry analyst, said the recent dropoff in sales is likely due in part to hefty prices, which he tied to a lack of supply and limited retail options. A Cook County judge’s order has held up the issuance of 185 dispensary licenses while litigation winds through the court system. State officials previously issued 40 craft cultivation licenses last year, and 60 more are expected soon after a Sangamon County judge lifted similar orders last week in a separate case.
However, many of those measures have been sent to the House Rules Committee, where cannabis activist and dispensary license awardee Edie Moore complained they’re "dying." She urged House Speaker Chris Welch to call them for a vote.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Illinois politics: IL pot sales have fallen sharply since hitting record high in DecemberIllinois' 110 licensed pot shops tallied $117 million in sales in January and just under $114 million in February, the lowest monthly haul since last March.
Read more »
Lennar revenue beats on soaring home prices; shares upLennar Corp beat market estimates for quarterly revenue on Wednesday, helped by record-high property prices as demand continued to outpace supply that was hit by raw material and labor shortages.
Read more »
Gold Technical Analysis: Breaking Important Support LevelsFor five trading sessions in a row, gold prices are falling amid profit-taking sales.
Read more »
Chipotle is testing a robot named Chippy that makes — what else? — tortilla chipsIt's the latest high-tech robotic innovation to hit the restaurant world.
Read more »
WTI surpasses $100.00 as IEA renews supply shortage worriesWest Texas Intermediate (WTI), futures on NYMEX, has rebounded sharply after hitting a low of $92.37 on Tuesday. The oil prices have increased around
Read more »