In a bid to assist struggling farmers faced with a surplus of unsold marijuana, the state’s Cannabis Control Board has given its approval to a plan that allows the sales of cannabis at special events across the state. The move comes after more than 100 New York pot farms found themselves with an excess of product due to the slow rollout of retailers under the complicated state licensing system.
The approved initiative, known as the “Cannabis Grower Showcase Initiative,” permits farmers to collaborate with licensed retailers and sell their products at events like farmer’s markets, festivals, and fairs. However, certain conditions must be met, such as obtaining approval from the respective municipality where the event will take place and ensuring that these events do not target underage audiences.
Excitement surrounds the new opportunity, with many growers eager to partner with licensed retailers and showcase their products at various events, including wineries and other suitable locations on Long Island. The board will be releasing applications soonest, and the first events are expected to be held in August.
Furthermore, the Cannabis Control Board has approved an additional 200 license applications, potentially leading to dozens of new retail stores opening before the year’s end. The strong demand at licensed retail outlets is evident, with sales surging by 49% between May and June following the opening of additional storefronts.
In a bid to eliminate illegal competition, which hinders the success of licensed retailers, the board has extended emergency regulations for 120 days, empowering officials to crackdown on illegal pot shops that have been popping up across the city. Recently, investigators seized $11 million worth of products from the first 25 stores targeted.
