In Episode 20 of the High Fidelity Podcast, we provide a quick update on the Vermont cannabis marketplace including a look at the latest licensing numbers from the Cannabis Control Board (CCB). We also hear from a handful of Vermont growers and producers on what “craft” means to them.
Vermont Market Updates
- Another Town Meeting Day has come and gone. Three towns had a ballot question to opt into cannabis retail sales. Bethel approved the measure while Brighton and Castleton did not, bringing the number of municipalities who have opted in to 74 (29% of municipalities).
- The Budget Adjustment Act (H.145) became law on March 20th. This bill provides the CCB funding for an internal reference lab and covers the cost of equipment and new staff. H.145 also exempts cannabis vape liquids from the Tobacco Products Tax beginning July 1st.
- Vermont’s certified analytical labs met with CCB staff to discuss discrepancies in potency reporting and decided that from now on, flower and cannabis biomass results will be standardized on Certificates of Analysis (or COAs) using the Dry Weight method of reporting instead of the “As Sold” method. We talked about this previously with CCB Compliance Director Cary Giguere in Episode 9 of the High Fidelity Podcast.
- The CCB issued a $20,000 fine to a licensed tier 1, indoor cultivator, for diverting some of his product to an unlicensed cannabis retail store in New York City. The owner was originally fined an additional $20,000 for activity related to the diversion and his license was suspended for 60 days. These additional penalties were eventually lifted, provided that the operator remains in compliance for the next 2 years.
Latest Licensing Data from the CCB
- 40 new license application submissions last month:
- 28 Cultivation
- 5 Retail
- 4 Manufacturing
- 1 Wholesale
- 1 Integrated license.
- 29 licenses were issued last month. The total is now 375. Tier 1 cultivators continue to make up the majority of this number.
- 67 new Employee ID cards were issued last month. The total is now 366. Board Member Julie Hubbard noted that the CCB will be issuing its first workforce survey in the near future.
- 974 product registrations have been approved in the following categories:
- 75% Flower/Pre-rolls
- 10% Edibles
- 10% Concentrates
- 2.5 % Tinctures
- 2.5% Other (includes Transdermal, Topical and Capsules)
- 3600 registered medical patients. This is down over 1000 patients in the last 12 months.
- 75% of registered medical patients qualify for chronic pain. The remaining 25% are concentrated in 10 other qualifying conditions with cancer, severe nausea and PTSD topping the list.
Vermont Producers’ Perspectives on “Craft Cannabis”
The word “craft” gets thrown around quite a bit in the cannabis community, but what exactly does that mean, and does size matter? We will be exploring this topic regularly on the podcast, both through our market coverage and in interviews with stakeholders. In this episode we invited four Vermont producers with different license types to share their perspective on what “craft” means to them:
Tune in to the complete episode to get all of the details. If you enjoy what you hear, please like, follow, share and leave a review. Thank You!