The Economic and Social cost of Weed Legalization

Economic and Social cost of Weed Legalization

Just like most people, you may be in a dilemma about weed business, this could be brought about by the fears of engaging in the black market, but there's no need to worry anymore. Take a step and do what you think is right. The following information will guide you to make wise decisions on weed business.

There has been an increase in the use of weed currently for both medicinal and recreational purposes. Due to this increase, some countries have legalized weed. Legalization has led to positive and negative impacts, both economically and socially.

Legal weed has provided the community with a real economic boost since it brings money. It has been noted that the positive result of weed legalization outweighs the negative ones in a big way. However, it is good to consider the negative impacts as well and the effects on individuals. 

Let's take a closer look at the economic and social costs of weed legalization. 

Economic costs

There are a number of benefits that have been realized in the weed business.

1. An increase in tax revenue has been reported

A large sum of money is being sourced in selling weed products. Legalization has made it possible for people to engage in weed business without any fear. This has increased government revenue, as well.

2. Creating jobs

Jobs have been created for many individuals to work in weed nurseries, dispensaries, processing distribution, and selling of weed products. 

3. Saved money

Individuals have saved money as a result of weed legalization. Earlier on, getting weed was quite a challenge; people could hardly engage in the business, making the price of weed to be so high. 

4. Increased investments 

The legalization of weed has created an opportunity for investors; the sales have increased, resulting in more profits. 

5. Cost of packaging

The legalization of weed has increased the number of dealers involved in the weed business. Weed should be well packed. 

6. Increase in living standards

The economy of countries that have legalized weed has greatly improved. As a result, individuals' income has gone up, leading to high standards of living. 

Social costs

1. Public health.

Marijuana is known as a cure for many ailments. It can be used on patients for pain relief. Diabetes cases are also treated with marijuana, among other diseases.

2. Crimes and social justice.

Legalization has made it easy to sell and buy weed, which is no longer a crime to carry out any weed business.

3. Public safety.

Legalizing weed has a negative impact on public safety. Accidents have been caused by individuals driving under the influence of weed. This is due to the lack of proper coordination.

4. Increased welfare dependence.

As a result of weed legalization, people have easy access to weed. Individuals who use weed can hardly engage in work or rather get employed. This has made them highly dependent on their family members in anything they need.

5. School dropouts.

Teens have been really affected by weed, especially in academics. Learning under the influence of pot is difficult; one can hardly concentrate without a sober mind. In such cases, students perform poorly, leading to dropouts.

6. Relationship problems.

As more cases of use of weed have increased, relationship problems have increased too. Weed users can hardly manage a relationship. Some reported t to be violent and can harm those who annoy them.

7. Abuse of other substances.

Weed is one substance that most people consider dangerous. However, the legalization of marijuana changes the image people had on weed, and they may consider other substances harmless as well.

Conclusion.

Countries that have legalized weed have reported having a great improvement in the economy. Unfortunately, negative results have increased, making it risky to have weed as a legalized drug.


Marijuana Legalization Legislation Approved by Three Senate Committees in Mexico

Marijuana Legalization Legislation Approved by Three Senate Committees in Mexico

March/9/2020

Mexico News Daily reported that new draft legislation was approved in Mexico by three Senate Committees. The bill would create a legal and regulated market for medical, recreational, and industrial marijuana.

The news outlet further reported that the legislation was voted in by twenty-six senators at a joint meeting of the Justice, Health and Legislative Committees, seven senators opposed it, while eight abstained from voting.

According to Mexico News Daily, the legislation would make changes to the Federal Health Law in Mexico and the federal criminal code legalizing marijuana for personal use and limiting it at 28 grams. The legislation would permit patients to grow a maximum of 20 plants for medical use as long as they have the permit by the Mexican Cannabis Institute, which is a department that is yet to be launched by Mexico Government.

The news outlet further reported that under the legislation, marijuana possession would be classified as drug trafficking is an individual is found with more than 200 grams of marijuana. Within the first five years of legalization, 40% of the marijuana production permits would be issued to applicants living in communities that were affected by drug trafficking.

The bill would be debated further in another meeting held by the three Senate Committees, reported Mexico News Daily. And for the legislation to become law, it would be approved by the Lower House and promulgated by President Lopez Obrador.

In 2019, Mexico’s Supreme Court issued a ruling stating that it is unconstitutional to ban recreational marijuana, and the lawmakers were forced to regulate cannabis at the federal level.

Last year on October 17, Mexico Senate Committees introduced legislation that would legalize and regulate recreational marijuana. However, the legislators failed to pass the bill within the deadline, which was imposed by the Supreme Court, the end of October. The Supreme Court has extended the deadline to April 30.


Colorado Approved the First Pesticide to be Used on Hemp and Updated their Marijuana Pesticides List

Colorado Approved the First Pesticide

March/09/2020

Colorado has updated the list of pesticides that can be used on marijuana without violating the 

Pesticide Applicator’s Act. It added the following products:

Cueva Fungicide Concentrate, SLN CO-200001 

This is colorado’s first pesticide to be registered for use on hemp. According to Section 24 (c) of the Federal Insecticide, Fungicide, and Rodenticide Acts (FIFRA), states are allowed to register more uses of a federally registered pesticide. The pesticide can be used for distribution as well as to meet an “a special local need” (SLN) in a particular state.

Farmers using the Cueva Fungicide Concentrate under the SLN registration must have both the product and the SLN label when they are applying on hemp. The SLN label can be obtained from the Department of Agriculture in Colorado (CDA) website.

Cueva Fungicide Concentrate cannot be applied to marijuana. 

Currently, the Department of Agriculture in Colorado is reviewing pesticide labels. They are also maintaining a list of reviewed products that can be used on marijuana without violating 35-10-117 (1). The Application has to adhere to the directions on the label strictly. 

Before buying the pesticides, please review the list to ensure that the product is on the updated list. If the registrant has not renewed their pesticide products within the department, the pesticide products might be removed from the list of allowed products. 


Effects of smoking weed on your body

Effects of smoking weed on your body

You may be wondering why some countries ban the use of weed completely, while others are legalizing it. The issue here is due to the negative and positive effects of weed on users.

Marijuana is known to have some benefits, but it may also have some undesirable effects. The harmful effects mainly depend on an individual and the reason why they are using marijuana.

The benefits of using weed are so many that they may outweigh the negative ones. Weed has several medical benefits that could lead to a healthy life; however, improper and irresponsible use can lead to many negative effects.

If you have to use marijuana, vapor is considered the best and safest. Do not lead yourself to addiction; instead, have some limits, and help your body adjust to a small amount of weed intake. 

To guide you on how to control the use of weed, let's look at both the negative and positive effects of smoking weed on your body.

Positive Effects

1. Stress Relief

Smoking marijuana makes you forget things that could be bothering your mind. As a result, you may feel stress free. 

2. Pain relief

Doctors may recommend the use of marijuana due to its ability to relieve pain. It can be used on cancer and diabetic patients. 

3. Weight loss

Smoking weed can help you lose weight in case of obesity. Although weed increases the appetite, research has shown that weed users experience weight loss. 

4. Treatment of inflammatory diseases

Marijuana may help in cases of inflammation of body parts. The drug blocks off bacteria and other compounds that cause inflammation. 

5. It helps control the abuse of other drugs

Cannabis is considered safer than alcohol. The use of marijuana can help you fight alcoholism. 

6. Prevention of diseases 

Weed can protect your body from acquiring diseases such as diabetes. 

7. Protection from bloating

Smoking weed will help your body eliminate cases of inflammatory bowel. Weed products decrease intestinal permeability blocking the entry of bacteria.

8. Increase in appetite

Loss of appetite can be a great danger to you. Smoking weed increases the urge for food and may help you solve your appetite problems. 

9. If used medically, it can help with glaucoma

In case of glaucoma, weed can be used to relieve the pressure on the eyeballs. 

10. It gives you a good feeling

Weed can make you feel relaxed and happy when doing things. These things include playing games and having sex. 

Conclusion

If you are a beginner, do not make quick decisions. First, think critically about the effects that weed could have on your body. It could be harmful to your health. 

Secondly, let not peer pressure lead you to the trap of being an addict. If you have to use weed, do it responsibly, do not have others to blame. 

Weed could have several health benefits as it could help with various diseases. In case the doctor prescribes weed to you, you can go ahead and have it. 

References

https://www.healthline.com

https://www,businessinsider.com


Marijuana Businesses in Colorado Close Shops Over the Coronavirus Outbreak Concerns

Marijuana Businesses in Colorado Close Shops Over the Coronavirus Outbreak Concerns

March/16/2020

Organic
Alternatives is a vertically integrated company based in Fort Collins,
Colorado. On Monday, the company closed its shop voluntarily over fears about
the spread of coronavirus. Other marijuana shops might follow suit and close
their shop irrespective of the losses in sales they would incur.

There
are also worries that people might make a run for marijuana stores to stock due
to fear of business closures. 

This
could lead to a hike in the cost of marijuana and a lack of medical marijuana
for patients.

Speaking
to Marijuana Business Daily, the director of sales and marketing for Organic
Alternatives, Maka Kala’i said that since the store will be closing
indefinitely, the company will incur a significant financial loss.

Organic
Alternatives is the first marijuana company to announce that they will be
closing their store voluntarily. However, their cultivation facility and
marijuana infused-operations are still operational. 

According
to Kala’i, for the past few weeks, the store has been getting over 500
customers. Closing the shop entails a significant loss in sales for the safety
of its workers and community at large.

The CEO
of 3C Consulting, which is based in Denver, Nic Easley, said that if more
companies shut down their establishments, the cost of marijuana products will
skyrocket. The high prices will affect not only recreational consumers but also
medical marijuana patients who are in dire need of medical cannabis.

Runs
for marijuana products at the retail outlets have already begun, said Easley,
and he expects them to persist.

Kala’i
likens the recent crowd activities at the retail marijuana outlets to 4/20. And
with the high influx of customers, they felt the need to protect their staff
and anyone else in their lobby.

After
Colorado governor Jared Polis announced that all ski areas in Colorado would
close and the Centers for Disease Control and Prevention suggested that all
events or gatherings involving more than 50 people should be suspended for the
next two months, the Organic Alternatives decided to close their retail outlet.

According
to The New York Times, on Monday, the Trump Administration announced new
guidelines that would help mitigate the spread of the virus, such as avoiding a
place where more than ten people have gathered.

Point
to note is that Organic Alternatives was tending to more than 50 people each
day.

In an
email publicizing the closure of the store, Kala’i said that it is their
responsibility to do what they can to stop the spread of the virus. And the
first step would be to close their business until better methods of managing it
have been put in place.

In the
meantime, some Colorado regulators are including dispensaries in their list of
essential businesses that should not be shutdown. 

Colorado
Sun reported that in an emergency session, which was held on Sunday, The
Crested Butte Town Board suggested closure of all businesses in the exception
of grocery stores, gas stations, liquor stores, dispensaries, medical offices,
and hardware shops. 

According
to Easley, some businesses might close their doors without being forced to;
however, those that close early are risking the loss of market share, which
will be difficult to recover. 

Easley
said that it is difficult to lure back a customer who has already left your
store and found another. Notably, customers will remember a store if it tries
to extort them during their time of need. This presents an opportunity for
marijuana retailers to determine how they will price the products.


Wholesale Marijuana Flower Prices in Massachusetts Skyrocket Amidst the Growing Demand and Shortage Supply

March/16/2020

In the U.S., Massachusetts has one of the highest wholesale
prices for wholesale marijuana flowers, and the producers are working to
increase production to meet the ever-growing demand. As the regulators approve
more stores, the supply is becoming more strained. It will take a while before
production facilities are built out to tend to the demands of the recreational
market, and the prices are going to continue rising.

Currently, marijuana
business owners in the state are selling wholesale cannabis flowers for:

  • Premium quality indoor grown: $4,200. In
    2019, it was sold for $3,500.
  • Average-quality indoor-grown: $3,800. In
    2019, it was sold for $2,800.

Theory Wellness director
of marketing, Thomas Winstanley, said that the wholesale marijuana flower
market is very competitive. Theory Wellness is a vertically integrated
marijuana company based in Great Barrington.

The prices for wholesale
marijuana flowers are determined by the trimming methods as well as the THC
results. The flowers that are trimmed by hand and has a THC concentration of
20% and above attract higher prices.

The high cost of
marijuana flowers is passed on to the consumers, as an eighth of an ounce of
adult-use flowers are going for $60 to $70 in Massachusetts.

The vertically integrated
companies have the advantage of reaping all the benefits if they choose to sell
their flower at their retail outlet or produce more in order to sell to the
wholesale market.

The summer the prices for
wholesale marijuana flowers are expected to be high, but when the outdoor
harvest hits the market in fall and more indoor cultivators have built out
their facilities, the prices are expected to start slowly falling.

The CEO and co-founder of
Manna Molecular, Nial DeMena, said that currently, demand for marijuana flowers
outpace the supply. Manna Molecular is a company that specializes in the
production of marijuana-infused products, and it is based in Mansfield.

DeMena further said that
when there is a supply shortage, vertically integrated companies have a
significant advantage over buyers. For example, when a vertically integrated
company sells m20 pounds of marijuana flower to the purchaser; however, they
have a clause saying that he must also but $150,000 worth of marijuana-infused
products.

This proves to be a
challenge when it comes to keeping up with demand, said Patrick Johnson, the
president of Curaleaf, which is a vertically integrated marijuana company based
in Wakefield, Massachusetts.

Johnson further said that
apart from lack of quality cannabis, there is also a shortage of a wide variety
of sativa, indica, and hybrid strains. Curaleaf is buying from other marijuana
flower growers to increase its selection for the consumers.

It will take several
months before supply and demand can even out. More retail marijuana outlets
will open irrespective of where the supply is enough, and this will increase
access and demand, marijuana executives in Massachusetts predicted.


Lack Of Community Approval Leads to Tight Supply of Marijuana Flower Wholesale Prices in Michigan

Lack Of Community Approval Leads to Tight Supply of Marijuana Flower Wholesale Prices in Michigan

March/03/2020

Michigan has one of the youngest recreational marijuana markets in the U.S., and the tight supply of adult-use marijuana flowers is causing an increase in prices as producers struggle to keep up with the rise in demand.

A majority of Michigan
municipalities are still opposed to allowing recreational marijuana businesses
to operate within their jurisdiction as well as the stringent testing standards
that are causing challenges in the supply chain. And these challenges are
worsening the marijuana flower shortage as farmers bring cultivation facilities
online.

Marijuana business owners
said that currently in Michigan, a pound of marijuana flower is going  for:

  • Low-quality marijuana grown indoors costs
    ranges from $3,400  -$3,600 while last
    year it  was selling  for $2,400 - $2,600
  • High-quality marijuana grown indoors costs
    ranges from $4,500 - $5,000 while in 2019 it was going for $3,500 - $4,000.

The president and CFO of
C3 Industries Vishal Rungta said that it is a perfect time to be a producer
because the prices are high, and the demand for all products is also high. C3
Industries is a vertically integrated marijuana company based in Ann Arbor.

Michigan recreational
marijuana sales began on 1st December 2019, and the first month of
marijuana sales, the state sales total amounted to about $6.5 million, and
since then, there has been increased production.

Marijuana Business Daily
estimates show that adult-use marijuana sales could go up to $1.4 billion -
$1.7 billion annually when the market matures.

It is predicted that the
market would find its footing and increase supply; however, that could be
several months away because production facilities take time to construct, and
farmers will take time dialing in the growing methods.

Rungta added that the
marijuana market is undersupplied, and the demand is still more than than the
supply.

Michigan has licensed
caregivers to cultivate marijuana for their patients, and they make up a
significant portion of the flower supply and are in competition with
cultivation companies that supply both medical and adult-use markets.

The president of
Exclusive Brands, Omar Hishmesh, said that the caregiver marijuana markets play
a huge role because, without it, the shortage would be more robust. Exclusive
Brands is a vertically integrated marijuana company, which is based in Ann
Arbor.

Although the state of
Michigan did not limit the number of marijuana businesses, it gave the
municipalities the option of choosing whether to allow businesses in their
jurisdiction or not.

The majority of cities
and towns in Michigan ( about 1,400) had opted out of allowing marijuana
businesses in their regions.

For instance, in Detroit,
the ban for recreational marijuana sales has been extended to March 31. This is
until the regulators develop social equity program. Detroit is vast, and it could
accommodate about 50 marijuana retail locations.

The purchasing director
for Utopia  Gardens Matt Ruhle said that
in the coming years, more municipalities would start allowing marijuana
businesses in their regions.  Utopia
Gardens is a vertically integrated marijuana company based in Detroit. And
until that happens, the prices will continue rising.

The strict testing
requirements for marijuana are also contributing to the marijuana shortage.

The owner of the Michigan
Cannabis Business Development Group Rick Thompson said that regulators have
moved the testing standard requirements, where it added a test for vitamin E
acetate due to the vaping outbreak in 2019, as it led to a recall of more than
9,000 vape cartridges from one dispensary in Detroit.

It also included a test
for heavy metals.

Ruhle said that several
growers, both large and small, have failed the testing standard, which led to the
destruction of their marijuana products. This because Michigan has a low limit
for acceptable pesticides, and the growers are still learning to comply with
the testing regulations.

Although the industry is
appealing to the regulators to loosen the limits, the process is still ongoing.

Ruhle said that once your
products pass the testing standard, the company is bound to make profits that
are unheard of due to the high prices for flowers.

Hishmesh noted that the
strict testing requirements have caused some investors to fear from building
more extensive growing facilities. He said that it took him more than three
weeks to get products through testing. Getting marijuana products right now is
a challenge, he added.

In the future, Thompson
said that he expected more of the cannabis-themed parties and festival, which
Michigan is famous for throwing this year. Of which the events could add more
strained to the already struggling marijuana market.

Hishmesh said that his
company added its workforce from 60 to 175 in 60 days because of the increased
demand for manufactured products. He also added that his company is adding  22,000 square feet facility for processing
and manufacturing to meet the demand.


Recreational Marijuana to be Delivered in Maine

Recreational Marijuana to be Delivered in Maine

March/01/2020

On March 2, Portland Press Herald reported that lawmakers in Maine voted in favor of allowing licensing of recreational marijuana delivery businesses.

The legislation allowing the
Maine Office of Marijuana Policy to create a recreational marijuana delivery
license was approved by the legislative committee that oversees Maine’s
recreational market, the news outlet reported.

According to the Portland
Press Herald, the sale of recreational cannabis through vending machines,
drive-through, online sites, and delivery services was banned by the lawmakers
during their rewrite of the initiative that was approved by the voters in 2016,
legalizing recreational marijuana in Maine. However, medical marijuana businesses
are always allowed to deliver products to thee patients.

The Portland Press Herald
further reported that when the Legislation (L.D 1621) was first proposed by the
Senate President, Troy Jackson, the opposition argued that the bills approval
would force the Office of Marijuana Policy to amend its regulations governing
licensing, and this would ultimately delay the launch of recreational marijuana
market in Maine.

The news outlet further
reported that the committee vote could signal a change in the issue of
recreational marijuana delivery business. The bill supporters garnered more
votes because it had an amendment that prohibited home deliveries past 7 p.m.
The Legislation was approved in a majority vote of 7-3, the news outlet
reported.


New Medical Marijuana Legislation Introduced in Tennessee

New Medical Marijuana Legislation Introduced in Tennessee

March/3/2020

According to Tennessean,
a new medical marijuana bill referred to as the Clinical Cannabis Authorization
and Research Act to be introduced in Tennessee by the legislators.

The legislation allowing the
use of marijuana oils, tinctures, lotions, and capsules would be introduced
through amendments by Senator Steve Dickerson and Rep. Bryan Terry. However,
the bill does not allow smokable pot, vape and edibles.

According to the news
outlet, the legislation would create a regulatory framework allowing licensed businesses
to cultivate and sell marijuana products before the year ends. The bill would
allow for a maximum of six medical marijuana cultivators and 75 dispensaries.
The Tennessean further reported that the state could also issue a total of nine
vertically integrated marijuana licenses, which would permit the businesses to
cultivate, process and sell marijuana products to a maximum of five
dispensaries across the state.

The legislation also has
a provision allowing the establishment of a new regulatory body known as the
Clinical Cannabis Commission that would be responsible for issuing medical
marijuana cards to patients with a disease that is in the list of qualifying
conditions, and have been recommended a licensed medical practitioner. The bill
allows the patients to buy a maximum of 2800 mg of THC over a duration of 30
days.

In January of this year,
Senator Janice Bowling also introduced new medical marijuana legislation that
would allow qualified patients to access medical marijuana, and license
businesses seeking to grow, distribute, transport, and sell marijuana products
for both medical and research purposes.


Marijuana Impact on the Brain

Marijuana Impact on the Brain

Marijuana use has increased rapidly over the past few years. This is in large part due to the legalization of growing, selling and using cannabis products in many states and countries. Many people have discovered that products made using cannabis have health benefits including better sleep patterns and pain relief.

This has seen the use of weed for
medical purposes spike creating what is now a billion-dollar industry. Every
day new products flood the markets that are used in multiple ways like smoking,
edibles, and even application, for example, skincare products. With that being
said, more research still needs to be done on the effect of pot.

The available information is not
enough to view the whole picture since the industry has taken off faster than
the research conducted. More needs to be done to learn both short term and long
terms effects of weed on your body and mind.

Effects of
Weed to the Brain

Even though it might seem
harmless and more beneficial, there is research that shows that cannabis has an
impact on the brain. This is information no one should ignore for their health
and well-being sake.

Teenage
Brain Development

The long-term effects of using
pot have been documented and show that people that start using weed while in
their pre-teens and teens have slowed brain development. This effect is not the
same for all of them and might vary from one teen to the other. Research
conducted and published in the JAMA Psychiatry Journal on August 2015 shows
that weed has an effect on teenage boys who are susceptible to schizophrenia
genetically.

The research showed that teen
boys with this inclination developed thinning of their frontal brain cortex.
This study was carried out over 4 years and the boys were studied when they
were 15 and again when 19 years old.

It’s, however, important to note
that schizophrenia is very rare and even those who are genetically susceptible,
the chances of developing it are very low. Due to this rarity of this
condition, research is still minimal due to the scarcity of people to conduct
in-depth studies.

Memory
Impairment

Continuous use of marijuana from
a young age can have more effects on your brain like memory impairment. This is
combined with poor concentration and attention that can affect your day to day
life. Long term use of weed has an impact on the hippocampus on your brain
affecting how information is processed.

The hippocampus is the part of
the brain that’s responsible for forming all your memories. You start to notice
you’re forgetting things too quickly and can’t seem to concentrate or pay
attention for long periods.

The main culprit in weed is THC
that affects this part of the brain altering its normal functionality. With
time, it only gets worse unless you stop using cannabis completely. This is
observed in heavy marijuana users that are dependent and been consuming it for
a long time.

Increased
Psychosis Risk

Marijuana can be the reason for
the onset or increase of psychosis in an individual. Again, this effect is not
on everyone and can only be observed from one person to the other. Long term
use affects people differently. You are at a greater risk of developing
psychosis after using pot for a long time if you have certain genetic
vulnerabilities that are exacerbated by the THC in cannabis.

The amount of THC in weed
products like edibles can be very high which only makes the levels in your
system higher every time you consume them. It takes time for THC to be flushed
from your body, so its retention and susceptibility to psychosis is not a good
combination. This is a very important point to note, especially if there are
mental health issues in your family.

Increase in
Neural Noises

There is increased neural
activity when you use weed. This is due to the presence of THC in cannabis.
These noises are also known as neural noises and their symptoms are similar to
those of psychosis and hallucinations. This effect happens after consuming pot
after which you experience thoughts that seem distorted, altered perceptions of
reality, and increased discomfort among others.