California Begins Destroying $350 Million Worth of Weed

Weeks of fire sales on California’s existing marijuana products came to an end Sunday as new rules on testing and advertising officially kicked in. In what has been dubbed the “Marijuanapocalypse,” any noncompliant weed remaining on shelves as of Sunday morning will have to be destroyed. One study estimates $350 million in cannabis products will be sent to the incinerator.

The Saturday before July 1 was nicknamed “Green Saturday” because of massive mark-downs on the price of weed. But it still wasn’t enough to move all the product off the shelves.

California Cannabis Industry Association spokesman Josh Drayton believes up to 8,000 pounds of marijuana will have to be destroyed in Sacramento alone. In Los Angeles, that figure could be far higher, reaching into the tens of thousands of pounds.

In the coming weeks, consumers can expect a sharp drop in supply. All cannabis products being sold in California must now undergo pesticide and contaminant testing at a licensed lab facility, and there are just 31 to carry out that monumental task.

Read more at ABC News and Wired


Comments

Policy

Wednesday, September 12, 2018 - 05:35

California Gov. Jerry Brown unveiled what is perhaps the most ambitious clean energy goal ever embraced by a state on Monday, committing California to total carbon neutrality by the year 2045.

Finance

Monday, September 10, 2018 - 03:08

Santa Barbara County is itching to see what first quarter revenues look like after residents approved new cannabis taxes in June.