Welcome to Senior Cannabis Digest. This week we look at innovative uses for the cannabis plant, a bump in Cannabis sales in Illinois, using cannabis oil to treat osteoarthritis in dogs and more. Enjoy.
Cannabis Corner
While a growing number of individuals are finding that consuming cannabis can be beneficial for their health and wellness, a number of recent research projects suggest there are other ways humans and the planet may benefit from having the plant around.
A recent article authored by the staff at National Geographic noted five new ways to use the cannabis plant, also known as hemp. Here are three of their examples.
• Australian researchers report that CBD—a naturally occurring ingredient in hemp— kills certain types of bacteria very efficiently and may become a candidate for a new type of antibiotic. It is already being used for asthma and pain.
• Batteries add hundreds of pounds to electric vehicles, reducing efficiency, so EV manufacturers are increasingly using hemp as a composite ingredient in car interiors and bodies. Hemp fiber is stable, elastic, lightweight, and biodegradable, making it an excellent replacement for plastic. Plus, the oil recovered from harvested hemp plants can also be used to make diesel fuel.
• A serving of hemp seeds contains about as much protein as a portion of beef. Plus, they also contain high-quality amino acids, fiber, and omega-3 fatty acids, all of which may one day make them a valuable protein alternative for vegans. Scientists are already developing pasta, tofu, and meat substitutes from hemp.
To learn more, we suggest reading the article published in the September 1, 2022 issue of National Geographic.com. Simply click on the link that follows. Special thanks to the inimitable Miriam Doefield for sending the article our way.
www.nationalgeographic.com/environment/article/surprising-ways-hemp-helps-the-planet?
Stats of the Week
This week’s magic number is $1 billion. That’s a billion with a B, as in boy-oh-boy. It’s also how much cannabis retailers in Illinois have reported in product sales this year, as of the end of August.
According to Tony Lange, who covered the story for Canna Business Times, that’s a 16 percent increase in sales compared to 2021. In his article, Lange noted that last year, Illinois adult-use cannabis retailers didn’t reach the $1-billion benchmark until October.
According to the state’s Department of Financial and Professional Regulation (IDFPR), sales peaked at $135.7 million in July, before experiencing a 4.6 percent drop off in August. Lange notes that out-of-state sales, which accounted for more than $41 million in August, held steady at roughly 32 percent of the state’s retail market, with Fridays and Saturdays making up the two biggest sales days of the week for cannabis retail.
According to Lukas Barfield, who reported on the story for Ganjapreneur, Illinois’ cannabis tax revenue also posted gains, from $297.7 million in 2020 to $445.3 million in 2021, a 50 percent increase, with 25 percent of those funds going to communities most affected by the drug war.
While markets, over time, will move up and down, clearly, if you sell it, they will come. Yeah, we think this cannabis thing is for real.
To learn more, we suggest you read Tony Lange’s article in the September 6, 2022 issue of CannaBusinessTimes.com.
www.cannabisbusinesstimes.com/article/illinois-billion-dollar-sales-cannabis-august-2022/
To read Lukas Barfield’s reporting on the story, visit the September 8, 2022 issue of Ganjapreneur.com.
www.ganjapreneur.com/illinois-has-sold-1b-worth-of-cannabis-so-far-this-year/?
Cannabis Trends
While the devil may be in the details, when it comes to cannabis regulations, that’s often where the profits can be found. Case in point: The sudden proliferation of cannabis- infused beverages being produced in Minnesota.
Some of you may remember the hoopla back in July of this year when, to the surprise of many, including the legislators who were involved, the Minnesota State Legislature passed a law allowing the sale of products containing THC.
So, while the august body in question didn’t legalize marijuana, per se, it did legalize the manufacture and sale of products containing hemp-derived THC—edibles, capsules, tinctures, and drinks—with concentrations strong enough for most people to feel their effects.
That’s the word from Jerard Fagerberg, reporting for Vice.com. According to Fagerberg, at least 8 craft breweries in Minnesota saw the opportunity created by the legislation and started producing THC-infused beverages that do not contain alcohol.
Dan Wellendorf, co-owner and head of marketing at Minneapolis’ Modist Brewing, noted, “It’s like it’s the Wild West. We can sell as much as we want to whoever we want.”
Fagerberg added that unlike hard seltzer or regular beer, THC seltzer doesn’t need to be brewed or fermented. This means breweries can produce a batch in under a day. Essentially, the product is a blend of sparkling water, water-soluble THC, and flavoring. That’s where the creativity comes, with some breweries favoring pineapple, lemon, and blackberry options.
One company, Modist Brewing, produces a product called Tint that’s made with real fruit purée. This, according to Fagerberg, gives the beverage a thicker body and a colorful appearance—qualities that are quickly becoming trademarks of the style of beverages that typically have slightly less carbonation than “your average White Claw.”
Fagerberg points out that while some of the lower-dose seltzers containing 2 mg or 3 mg of THC don’t typically produce an immediate effect after a single can, a product that contains a full 5 mg dose, such as High & Dry or WLD WTR Infusions, gives the consumer a feeling that’s different from alcohol but, according to brewers, is similar to the kicked-back, social experience of drinking beer.
Said Ryan Pitman, owner of Eastlake Craft Brewery, which produces a THC-infused beverage called High & Dry, “We don’t want people to get jacked up and start seeing things. It’s a nice, mellow result. You can feel it coming on pretty quick.”
It’s not clear how long this trend will last. Some have voiced concern that breweries in Minnesota that have entered the cannabis game may, one day in the near future, have to choose between brewing beer or producing cannabis beverages—not today, but soon.
To learn more, we urge you to read Jerard Fagerberg‘s detailed and insightful article. It appears in the September 13, 2022 issue of Vice.com.
www.vice.com/en/article/m7g3m3/thc-drinks-legalized-minnesota
Legalization and Home Prices
A new study suggests it’s possible to benefit financially from the legalization of cannabis without investing in the cannabis sector. Being a homeowner may suffice.
Researchers at Rutgers University report they have found a nearly 2 percent increase in home prices in municipalities that have allowed licensed cannabis businesses to operate. That’s compared to areas that banned cannabis businesses.
The report states that the research team found,”a positive association between the decision to allow cannabis-related businesses and home prices. For example, we find that the average home sale price increased by 1.6 percent in municipalities that allowed cannabis-related businesses compared to municipalities that did not allow these businesses, which is equivalent to a $6,366 increase for the average property in our data.”
According to Lukas Barfield, reporting on the study for Ganjapreneur, the researchers said it wasn’t clear if there was a direct correlation between higher home prices and cannabis establishments but they were ultimately confident that “allowing cannabis-related businesses does not negatively impact home sales prices.”
Commenting on the study, Paul Armentano, Deputy Director of the advocacy group National Organization for the Reform of Marijuana Laws (NORML) said, “Cannabis is here and here to stay. Municipalities need to embrace this reality and provide the necessary oversight in order to hold these businesses accountable and to make this marketplace safe, transparent and profitable for the community.”
We know correlation is not causation, but two percent is two percent.
The study was conducted by Rutgers University with funding help from the New Jersey State Policy Lab.
To learn more, we suggest reading Lukas Barfield’s article in the September 14, 2022 issue of Ganjapreneur.com.
www.ganjapreneur.com/study-accepting-legal-cannabis-operators-may-increase-local-home-prices/?
To read the report itself, simply click on the link that follows.
rutgers.app.box.com/s/28oxapqg7a3tk0k385bhtlygn7qtehuk
Canines and Cannabis
There may be hopeful news for dog owners whose pets suffer from osteoarthritis, a condition common to many dogs. A team of Italian researchers recently conducted a randomized, placebo-controlled and double-blind clinical trial to assess the effectiveness of using a food supplement containing Cannabis sativa oil to treat the symptoms of osteoarthritis in dogs.
The researchers reported that they found that inflammation and oxidative stress—which can affect the immune system—were reduced in the treated group of dogs as well as a reduction in chronic pain.
The study appeared in the September 6, 2022 issue of the journal Natural Product Research. To read an abstract of the study, simply click on the link that follows.
www.tandfonline.com/doi/abs/10.1080/14786419.2022.2119967?journalCode=gnpl20
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347-528-8753.
