For the next four days in California, every weed must go.
Since the state fully legalized cannabis on Jan. 1, the industry had a six-month transition period to adopt new testing, packaging and ingredient standards. Businesses can continue to sell products that don’t meet the new requirements until June 30, but will be forced to destroy any leftovers come July 1.
The deadline has many in the cannabis industry scrambling to sell tens of thousands of dollars worth of old, non-compliant stock by the end of June, touting discounts and parties to lure customers. And some patrons can’t resist a deal.
“It’s just like Toys ‘R’ Us going out of business,” said Scott Lambert, CEO of The OG Collective in Cathedral City. “People are buying stuff they don’t really need.”
But some in the cannabis industry say the bigger challenge will come after July 1, when retailers will have to stock their shelves with products that meet state standards. They say there are too few suppliers in compliance – and they worry shortages will allow the black market to thrive instead.
In the short term, many dispensary operators are just looking to cut their losses. [Read more at The Desert Sun]
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