Welcome to Senior Cannabis Digest. This week we look at the economy and cannabis, tips for home growers, a warning for tourists thinking of consuming cannabis in Thailand and more. Enjoy.
The Economy and Cannabis
While it was once thought by some that the cannabis sector was inflation proof, Joseph Billions, writing for Cannabis.net, says a new study indicates that may not be the case.
According to Billions, a firm called GreenGrowth CPAs—described as a leading cannabis CPA firm offering tax, audit and accounting services to the cannabis and medical marijuana industries—recently conducted a month-long survey in which they questioned cannabis companies about the impact of price volatility on their business.
The poll examined over 700 businesses in jurisdictions where cannabis usage is permitted for either medical or recreational purposes. Both small multi-state operations and larger ones were included in the poll.
The study found that 1 in 4 operators said they intended to raise prices in the near or immediate future. In addition, more than 50 percent of the survey participants said that the global cannabis economy has deteriorated during the past year.
When unpacking the reasons behind inflationary pressures in the cannabis sector, a significant number of respondents to the GreenGrowth survey blamed inflation on the petroleum industry and the Biden Administration.
Much like many businesses in non-cannabis business sectors, 40 percent of survey participants blamed the Biden Administration for general inflation problems, 30 percent blamed residual effects from the Trump Administration, 20 percent pointed to “outside influences,” such as the war in Ukraine, and several other participants decried supply chain problems and petroleum companies. It’s not clear what evidence respondents cited for their opinions.
The bottom line is that the survey results revealed at least 25 percent of legal cannabis dispensary operators are on the verge of raising the prices of their products to battle the rising costs of operations in the immediate future.
Billions contends that one reason the cannabis industry escaped inflation for a long time was that there was too much cannabis in circulation. As a result, cannabis retailers were forced to keep their prices steady to stay competitive.
Billions did note, however, there may be a ray of light in the survey findings, with about 70 percent of operators revealing that they’d “try their best to bear the increased costs connected with inflation before raising client prices.” The survey also found that the operators responding to the survey anticipate that increased costs may raise prices by as much as 10 percent for consumers.
To learn more, we suggest you read the article by Joseph Billions in the August 11, 2022 issue of Cannabis.net.
Cannabis Corner
Two new reports offer some insight into consumers’ opinions about cannabis use, particularly when compared to using alcohol.
The first, a survey by New Frontier Data cited by Adam Jackson in an article he penned for the online publication Green Market Report, revealed that two-thirds of cannabis consumers surveyed said that they drink alcohol at least once per month, but 61 percent say that given a choice, they prefer cannabis.
In addition, one-third of respondents to the New Frontier Data survey said that they would like to quit drinking alcohol altogether, “though it is likely that the significant difference in social acceptability between alcohol and cannabis makes it more difficult to stop drinking entirely.”
The second report, based on the findings of a recent Gallup poll, notes that more than twice as many Americans think that marijuana has a positive impact on its consumers and society at large than say the same about alcohol.
According to Kyle Jaeger, reporting on the poll for Marijuana Moment, one of the more revealing findings of the poll was that people who have actually used cannabis are far more likely to promote its positive effects when compared to just a small fraction of alcohol drinkers who feel the same way about the effects of alcohol.
Jaeger also points out that “just 27 percent of people said that alcohol is good for the individual drinker and 23 percent said alcohol is a societal positive.” In addition, 75 percent of Americans said alcohol is bad for society, and 71 percent say it’s no good for most individuals who consume it.
At the same time, he reported that “fifty-three percent of respondents said marijuana has a “positive” impact on the consumer (in contrast to 45 percent negative), and 49 percent said the plant is good for society (compared to 50 percent with the opposite view).”
In his article on the poll findings, Jaeger concluded that “while alcohol is legal and widely accepted from a societal standpoint in the U.S.—and cannabis is prohibited and often stigmatized—the data suggests that people still generally feel that marijuana is the better choice.”
To learn more, we suggest reading Adam Jackson’s article in the August 11, 2022 issue of Green Market Report.com.
www.greenmarketreport.com/cannabis-consumption-on-track-to-beat-alcohol/
We also urge you to read Kyle Jaeger’s reporting in the August 16, 2022 issue of Marijuana Moment.net. As always his work is on point and informative.
Tips for Those Who Grow Their Own
If you’d like to grow your own cannabis but don’t know where to begin, there’s good news. A.J. Herrington, writing for the website Highthere, has penned a guide to selecting the seeds that are likely to bring you a successful harvest.
Here are few key points taken from the article:
• Know before you grow. Check with your state or local officials to make sure it is in fact legal to grow cannabis in your state, indoors or out.
• Herrington contends that plants grown from seed are usually more vigorous than those grown from clones—the term for small rooted cuttings of mature cannabis plants—partly because those grown from seed have a taproot that contributes to a more extensive root system to support the plant’s growth.
• He takes the position that it’s legal to buy seeds from a vendor and have them mailed to you. Herrington points to a letter Terrence L. Boos, the chief of the Drug & Chemical Evaluation Section of the DEA, wrote to an attorney in January of 2022, in which he states, “marijuana seed that has a delta-9-tetrahydrocannabinol concentration of not more than 0.3% on a dry weight basis meets the definition of ‘hemp’ and thus is not controlled under the CSA.”
• Usually, gardeners who are interested in producing cannabis to smoke or otherwise ingest will want to grow only unfertilized female flowers. These are the most potent and will have no seeds. Herrington notes that gardeners who use regular seeds will often plant twice as many seeds as the number of plants they hope to grow, to account for the male plants (about half) that will be discarded.
• He suggests looking for a seed vendor that offers feminized seeds. These are seeds that have been specially bred to produce only female plants. With no males in the garden, gardeners are much more likely to produce plants with seedless buds, also known as sensimilla. This is a good thing.
• Some seed vendors are now offering what are known as fast version seeds. These mature more quickly than most standard varietals.
• When choosing a seed bank or vendor, Herrington suggests doing your homework online and looking for one that demonstrates an interest in the success of home growers, such as offering them information on how to grow quality cannabis. He also quotes an expert who suggests looking for a vendor that has been in business for a while and offers a wide selection of strains and seed types.
To learn more,—much more—we suggest reading A.J. Herrington’s detailed and informative article in the August 15, 2022 issue of Highthere.com.
highthere.com/learn/beginners/buying-cannabis-seeds-home-garden
Travel Tips
Mature consumers who like to link their travel plans with opportunities to enjoy cannabis culture should take note. If you’re thinking of visiting Thailand because they have relaxed their restrictions on cannabis, think again.
According to Nika Shakhnazarova, reporting for the New York Post, the country’s Public Health Minister, Anutin Charnvirakul, is actively discouraging tourists from visiting Thailand if their sole purpose of visiting the country is to consume cannabis. The country decriminalized the drug, for the most part, about two months ago.
Said Charnvirakul about recreational marijuana use among foreign visitors, “We don’t welcome those kinds of tourists.”
Shakhnazarova notes that in February, Charnvirakul signed a measure officially dropping cannabis, best known in the form of marijuana, from a list of controlled drugs. However it’s been reported that in recent weeks, both locals and visitors have been seen lighting up joints across the country, with the government’s pleas against getting high ultimately “falling on deaf ears.”
Those who do decide to light up and smoke in public run the risk of three months behind bars, as well as a fine of $705.
Shakhnazarova points out that in May of this year, the Thai government gave away 1 million free cannabis plants for home cultivation. Charnvirakul stated at that time that individuals will no longer need to obtain a permit to grow cannabis at home, as long as it is declared to be for medicinal purposes and does not have THC content above the legal maximum.
Medicinal, good. Recreational—at least for now—not so much, particularly if you are a tourist.
To learn more, we suggest reading Nika Shakhnazarova‘s article in the August 18, 2022 issue of the New York Post.
nypost.com/2022/08/18/pot-smoking-tourists-not-welcome-in-thailand-health-minister/
History of Cannabis
As we have stated before, those who think the use of cannabis started with the Summer of Love in San Francisco in the 1960s are often surprised to learn that is far from the case.
For example,evidence that folks have been using cannabis for both medicinal and recreational purposes for a very long time is cited in an article that appeared on the website Ancient Origins. According to the article, a team of archaeologists, led by Hongen Jiang from the University of the Chinese Academy of Sciences, found nearly two pounds of dried cannabis in an ancient tomb in northwest China.
According to the team members who made the discovery, the cannabis was placed near the head of a “blue-eyed, 35-year-old Caucasian shaman” along with other objects, such as bridles and a harp, to be used in the afterlife.
Scientists speculate that the man and his community most likely used cannabis for medicinal and recreational purposes. According to professor Dr. Ethan B. Russo of the Chinese Academy of Sciences Institute of Botany, this assessment was made because someone had picked out all the parts of the plant that are less psychoactive before placing it in the grave. They contend this suggests the dead man probably didn’t grow his hemp just to make clothes.
The article also noted that it’s been reported that cannabis was used in ancient Egypt and the Greek historian Herodotus described the Scythians, a nomadic people who lived in the area known as the Eurasian Steppe—modern-day Ukraine and Southern Russia—inhaling the smoke from smoldering cannabis seeds and flowers to get high. Also, as recently as two years ago scientists found burned cannabis remains on an altar at a sacred site in Israel.
To learn more, we suggest reading the article that appeared on the website Ancient Origins.com. Just click on the link that follows.
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com or at 347-528-8753.
