Cannabis
SF Gate Report: California is losing legal cannabis farm licenses by the hundreds
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California’s legal pot market has lost hundreds of pot farms a month as farmers opt to quit the legal market. And signs indicate the industry is only continuing to shrink.
The fleeing farms are reducing the total amount of space licensed to produce cannabis in California. The state has lost 23% of its total legal canopy — the combined size of all legal cannabis grows — since the beginning of 2022, according to Aaron Edelheit, a cannabis investor who analyzes California’s market. That’s over 19 million square feet of cannabis farming that has disappeared over the past year.
Max Rudsten, chief revenue officer of Monterey’s POSIBL cannabis farm, said he expects the industry to continue bleeding farms throughout the year.
“We expect this loss to accelerate as more businesses decide the same fate,” Rudsten said in an email.
Read the full article
https://www.sfgate.com/cannabis/article/california-legal-cannabis-farms-in-freefall-17882804.php
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Sean Hocking
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