Thursday September 24, 2020
In todays report:
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Oregon Marijuana Sales Spike Could Continue As Consumers ‘Permanently Adjust Their Behavior’ Following COVID
This video is a featured asset from the following weedcash.network blogpost
https://www.weedcash.network/undefined/@joeyslliks/the-wash-daily-wioth-joey-slliks-cannabis-news-report-oregon-weed-is-not-supposed-to-be-winning
Record-setting Oregon marijuana sales continue to be a bright spot in the state’s coronavirus-slowed economy, state analysts reported this week, but a convergence of unknowns—including the end of federal coronavirus relief and a possible rise in cannabis prices due to devastating wildfires—could still mean a rocky road ahead for consumers.
The projected uptick in sales will mean an extra $30 million in marijuana tax revenue for the state during its two-year budget period ending in 2021. Total adult-use cannabis taxes for that period are now forecast to end up at more than $276 million.
Exclusive: Tobacco consumers more likely to convert to smokable hemp in coming year
The increase tracks with other more established cannabis markets, such as those in Colorado, Washington and Nevada, which have also seen “strong gains” since the pandemic, the office said. “There are a number of likely reasons for these higher level of sales and expectations are that some of these increases will be permanent.”
“A key question is now that the federal aid is gone and other entertainment options return in the months ahead, will some of this increase in sales in recent months subside?” the Office of Economic Analysis wrote in the new report. “In a recent meeting of our office’s marijuana forecast advisory group, the broad consensus was that yes, some of these sales will come off, but not entirely so. And the longer the pandemic lasts, the more likely customers will permanently adjust their behavior as they become accustomed to their new routines and buying patterns.”
ICSCalifornia Grant Program Uses Marijuana Tax Revenue To Help People Harmed By War On Drugs
California announced this week that grant applications are now available to promote public health and economic justice for communities disproportionately impacted by the war on drugs. And those grants are being funded by legal marijuana tax revenue
The online portal to submit an application for this year’s grant round will open September 28 and close November 2.
Application for program