Cannabis Business Times
To answer the question in two words: interstate commerce. Due to the 2018 Farm Bill, hemp is traded across state borders and is beginning to show signs of commoditization with the latest spot price for smokable hemp down to $148 per pound. THC cannabis flower, however, fetches $1,100-$4,000 per pound (depending on the state) because it cannot be shipped across state lines.
Consumers “locked-down” then “lit-up” as evidenced by record vaporizer device sales since the emergence of this global pandemic. The pandemic has accelerated demand for cannabis and accessory products and is straining an already-stressed supply chain.
In a recent Bengal Bite, we discussed the “power of authenticity” in branding. It remains to be seen whether or not existing consumer brands will be able to transition into cannabis in a way that resonates with consumers, but Pabst is bringing its Blue Ribbon reputation to the industry. Through a partnership with Pabst Labs, “PBR me ASAP” now comes with the option for THC during those nights out on the town.
Marijuana Business Daily
Cannabis companies are slowing the rollout of new brands and products in what might be the latest sign of market maturity in states that have legalized adult-use sales. This is good news for established cannabis brands as competition for shelf space declines while sales continue to grow.