The State of Maryland just got richer for another 12 medical marijuana businesses, which put’s the total number of licenses approved to 22.
Medical marijuana regulators have approved an additional 12 medical marijuana licenses, after approving 10 in the previous round of application.
As of December 15, 2017 there are another 60 medical marijuana dispensaries which are awaiting approval for their licenses.
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The biggest problem for residents of Maryland is not the lack of dispensaries, but the lack of cannabis in them.
Shortage of medical marijuana
Regulators have warned the public that there will be a very tight flow into the dispensaries for the next 3 months or so.
“Product is limited,” said Bryan Lopez, chairman of the Medical Cannabis Commission. “We expect that it will continue to be limited.”
Maryland currently has over 18,000 licensed patients, with another 5,000 awaiting medical cards. It is a number Maryland alone cannot cover.
This shortage is mainly due to Maryland’s growers not having cannabis in stock since most of them only started growing by the end of summer this year.
This is also driving the prices up, which means the patients are paying $480 to $680 an ounce for medical marijuana.
“The prices are going to remain relatively high because people are trying to quickly recoup their investments,” Darrell Carrington of Greenwill Consulting Group said. “The prices are going to remain relatively high because people are trying to quickly recoup their investments”.
Bryan Hill’s and his dispensary Charm City Medicus in Dundalk were among the dozen approved to operate, but he said he probably won’t have cannabis available until January.
Bryan said that he doesn’t yet want to open his dispensaries doors to the people as he believes he would only be digging himself a deeper hole.
With nothing on the shelves, he can’t offer anything to his medical patients. “We want to open up and have a steady supply,” Hill said.
Last year, Maryland picked 102 businesses to launch in Maryland’s dispensary market. Each of the 102 businesses had until early December to get up and running or lose their preliminary licenses.
Bryan Lopez, chairman of the Medical Cannabis Commission, said they would consider whether to revoke licenses next year.