New Mexico may not have enough weed to open a recreational sale

When New Mexico began legalizing cannabis, the state’s marijuana community was thrilled because it marked a new dawn for them. By the time it was finally legalized the excitement had gone through the roof, but today it seems like something is threatening that joyous feeling in the state.

The problem with availability

New Mexico faces an impending crisis and may have issues with marijuana availability. Experts in the state say recreational marijuana products could run out in the first week when sales begin.

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Regional and Licensing Superintendent5, Linda Trujillo, held a discussion with the Economic Development and Policy Committee on July 26th. She said the state is likely to face Krispy Kreme Syndrome.

Krispy Kreme Syndrome is compared when the Krispy Kreme franchise opened its doors and faced an unprecedented onslaught that resulted in product unavailability. Regarding cannabis sales, Trujillo said the state believes that when the program launches next year, the state will not have the products enough to meet demand.

She claims that they forecast the products will run out in the first two weeks, and that information comes from feedback they received from other states within the first week of their legalized cannabis products being launched.

In fact, in some states that legalized cannabis long before New Mexico, there was a shortage of products even within the first two weeks. So expecting a deficit in New Mexico is not paranoia; it is a sure prediction given the precedent set by other states.

RELATED: Adult Cannabis Is Now Legal In New Mexico

Trujillo also claims the state needs to ensure it has around 500,000 plants to meet anticipated needs. It wouldn’t be easy to grow this amount as Trujillo states that the required number of plants will account for at least 18% of the growth failure rate.

New Mexico is ready for the rush

The state’s new recreational laws officially went into effect on June 29th. However, there is a deadline to start issuing marijuana licenses as early as September 1st. However, the Regulatory and Licensing Department has not yet released details on the proposed retailer rule, and individuals have not yet released it has been selected to run the Cannabis Regulatory Advisory Committee.

Trujillo expected everything to be ready in early June, so it’s disappointing that it is taking too long to take effect. The New Mexico legislature passed this cannabis legislation in a unique session in early April.

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They set a tough legislative deadline for all aspects of the cannabis industry, from manufacturing to retailing to testing facilities. The new regulatory movement includes the Cannabis Control Division (CCD), which is changing plant-based laws. The CCD agreed to increase the number of plants a breeder can grow from 4,500 to 8,000. They also included another 500 years for four years, making a total of 10,000 plants.

New Mexico is expected to generate up to $ 50 million in marijuana revenues in the first year the law goes into effect. The rise in pay also means it will have a positive impact on the jobs sector, which is expected to have 11,000 jobs. While there wouldn’t be a lack of interest in marijuana, Trujillo’s main concern is how the state can make cannabis easier for locals.

The focus here is on locals with poor finances, as access to capital is not always available. Trujillo’s fear rests on the fact that people interested in getting into the cannabis industry will take extreme measures to get in. Some of the steps include taking up the family savings, mortgage, or even their retirement savings.

Concerns Shared by New Mexico cannabis business owners

Matt Munoz is a partner in the Carver Family Farm Venture seeking to own a micro marijuana business. From Yahoo Finance, he claims the state should help residents who want to get into the marijuana industry.

He also claims that assistance with obtaining licenses should be provided: that the cost of obtaining applications should not be too high. He also said the cost of running the cannabis business is also high.

RELATED: The New Mexico government regrets not legalizing marijuana prior to the coronavirus

The availability of cannabis is limited in New Mexico. In Albuquerque, for example, Munoz insists that the vacancy rate is up to 2%, which means it is too complex and expensive for residents to run a marijuana business. He has also expressed concern about the growing black market for cannabis in Oklahoma, where the cannabis program has been in operation for three years.

Munoz also wants the state of New Mexico to ensure that all of its residents have priority when the time comes to apply for cannabis licenses. He wants this to happen before other incumbent and foreign companies apply for permits and permits. But Trujillo claims that the law that was signed leaves no room for it.

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Munoz argues that I can add to the growing black market if New Mexico residents interested in the cannabis business don’t get an early chance. Residents can justify their action to source cannabis by other means if the government has failed them.

The cannabis control department will organize another public hearing. Subsequent meetings are held even after recreational marijuana sales have started.

Bottom line

Legalizing cannabis in any state doesn’t end the state’s marijuana challenges. Legalization just means that anyone over the legal age of the state will have access to the marijuana market, which also means increasing demand.

An increasing demand is good, isn’t it? It’s supposed to be good, but when the state is unable to meet such needs, it becomes a problem. New Mexico could be out of cannabis within the first week of legalization.

But if the state proactively addresses the situation by making sure that growers plant more crops. When demand meets supply, the market can flourish: suppliers will be happy, citizens happy and must ensure a stable cannabis market.

This article originally appeared on Cannabis.net and was republished with permission.