{"id":2152,"date":"2021-11-02T22:40:14","date_gmt":"2021-11-02T22:40:14","guid":{"rendered":"http:\/\/CBMiXWh0dHBzOi8vd3d3LmN0aW5zaWRlci5jb20vbmV3cy9hcnRpY2xlL051bWJlci1vZi1yZXRhaWxlcnMtY291bGQtaW1wYWN0LXByaWNlLW9mLTE2NTg2NjM2LnBocNIBAA"},"modified":"2021-11-02T22:40:14","modified_gmt":"2021-11-02T22:40:14","slug":"number-of-retailers-could-impact-price-of-recreational-pot-in-ct-ct-insider","status":"publish","type":"post","link":"https:\/\/thcinct.com\/?p=2152","title":{"rendered":"Number of retailers could impact price of recreational pot in CT – CT Insider"},"content":{"rendered":"
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Connecticut will likely see a flood of applicants interested in selling adult-use recreational marijuana, and the number of available licenses could impact the price of the product, a presenter told a state board Tuesday.<\/p>\n

In Washington, officials did not allocate enough time between licensing producers and licensing retailers, which led to an initial cannabis shortage followed by an oversaturated market, Rick Garza, director of Washington State Liquor and Cannabis Board, told Connecticut\u2019s Social Equity Council<\/a>. Washington legalized recreational marijuana in 2012.<\/p>\n

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\u201cI don\u2019t know what the pool is or the number of producer licenses or retail licenses you plan to make available, but it\u2019s very likely \u2026 that there will be many, many more applications than you\u2019ll expect,\u201d Garza told council members during a presentation.<\/p>\n

The Social Equity Council is charged with ensuring the adult-use program is equitable and that funds from the program \u201care brought back to the communities hit hardest by the \u2018war on drugs,\u2019\u201d according to the state\u2019s website.<\/p>\n

Washington left six months between production and the opening of retail stores, Garza said. Initially, when the shops opened, eager consumers bought up the available supply.<\/p>\n

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This drove prices up to $30 a gram at one point. Then, when production caught up, there was more supply than demand. Prices dropped to less than the cost on the illicit market, he added.<\/p>\n

\u201cWe had overwhelmed the illicit market,\u201d he said.<\/p>\n

Melissa McCaw, secretary of the Office of Budget and Policy Management and an ex-officio member of the council, asked if a process of phasing in more applicants more slowly may have helped. She said Connecticut is considering such a procedure.<\/p>\n

Garza said that could help the process in Connecticut, which is expecting \u201ca significant volume on the application front,\u201d according to a note on the meeting agenda.<\/p>\n

Washington expected about 100 applications. The state received 2,858, Garza said.<\/p>\n

Garza also emphasized a need for grants for technical assistance for applicants. Without that help, wealthier applicants have an added advantage because they can hire attorneys to guide them through the process, he said.<\/p>\n

\u201cPeople who have the money will have lawyers to help them get through the application,\u201d he said.<\/p>\n

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McCaw reemphasized the importance of the assistance, particularly for disadvantaged communities.<\/p>\n