Cannacurio #109: Cultivation 2024 Years' ranking

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The Seed To Sell's value chain begins with plants in the ground, and many observers and analysts follow this license to assess how the offer and price of cannabis will move. In 2024 the new licenses rose around 2023, but 63% of these new licenses only came from Michigan and Oklahoma. The balance of 3,369 new licenses is far from the climax of 9.010 in 2021.

Key results

• 3,369 new growing licenses were issued in 2024, compared to 2,253 in 2023
• Michigan led the nation with 1,079 new licenses and Oklahoma was close to 1,039
• 5 states made up 87% of these licenses, with Michigan being responsible for 32%
• The number of cultivation facilities fell from 14,185 to 12,444

In view of the moratoriums, oversupply and price pressure, adding cultivation licenses in mature markets does not seem to be smart. In the following graphic we show the number of licensed licenses that have been added every month. The summer spikes seemed to be reinforced by the Michigan in the second quarter of 689 attachments. 498 of them only came 10 farms.

Here is the 2024 ranking for new licenses with Michigan, which takes the crown.

In recent years we have been far from the dizzying heights of 2021, where 9.010 attachments have been spent. 2024 was a jump from a low of 2,253 in 2023.

And here are the top 10 states in relation to the entire active cultivation licenses:

Diploma

We have learned a lot in the documentation of cultivation licenses in the past ten years. The local press in California recently condemned the relationship between inactive to active licenses in the state. The readers of this blog know that California has allowed farmers to consolidate small licenses into large ones. There are currently 63 of these large licenses, so that the number of licenses does not necessarily lead to the number of farms. Details are important. As we mentioned above, 10 Michigan cultivator added 498 licenses in the summer of 2024. That is almost 15% of the new grow licenses of the year for the country. This increase does not necessarily mean that Michigans will increase canopy or that there is even a demand for demand. The license counts are just a proxy for the industry – we believe that the number of facilities is much better metric.

The oversupply is destroyed for this industry. Michigans Mlive was currently writing that “wholesale prices for a pound of marijuana, which previously brought in 1,500 US dollars, fought to find $ 150 $ 150 per pound after enormous harvesting outdoor harvesting in October”. These races are not maintained.

author

Ed Keating is a co -founder of cannabiz media and monitors data research and the efforts of the company's government relationships. He spent his career to work and share information companies in the compliance area. ED has managed product, marketing and sales and at the same time monitored complex product lines for the majority in the securities, companies, UCC, security, environmental and personnel markets.

At Cannabiz Media, ED enjoys the challenge of working with supervisory authorities around the world, while he and his team collect companies, financial and licensed information in order to pursue people, products and companies in cannabis economy.

Ed completed the Hamilton College and received his MBA from the Kellogg School at Northwestern University.

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