Tuesday, March 21, 2023

The future cannabis market?

 The Washington Post has the story on a big bet on the future of the American cannabis market:

Giant California greenhouse signals a big bet on cannabis legalization. One enormous facility on the northern edge of metro Los Angeles reveals expectations of marijuana becoming legal nationally.  By Scott Wilson

"Graham Farrar has placed the bet here. He is the president and co-founder of Glass House Farms, and the company’s greenhouse offers 5 million square feet of indoor space for cannabis production. That comes to just over 114 acres, the equivalent of about 86 football fields.

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"Far from the misty northern redoubts of the state’s historic cannabis culture, the crop here grows just a few miles from highway-side outlet malls, an expanding regional airport, and the broad blue-stretch and logo-smile of an Amazon warehouse and distribution center.

"Those neighborhood ambitions help reveal Farrar’s own restless intent — to create a national cannabis business, even though his product, while legal in the Republic of California, remains illegal in the United States of America.

“I have the capacity, when the time is right, to produce on a national scale the best cannabis in the world,” Farrar said during a recent tour.

“And when that happens,” Farrar added, speaking of national legalization, “this farm goes from feeling really big to really small.”

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"Last year, the California legislature passed a bill to allow licensed California cannabis businesses to sell their products in other cannabis-legal states.

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"In a recent interview, Lee said that allowing trade with Oregon, Washington, Nevada and Colorado — all cannabis-legal states — would pose a risk not “qualitatively” different than what the state or cannabis businesses are taking now by defying federal law.

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"In this marketing view, California is to weed what Cuba is to cigars."

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