Massachusetts cannabis regulators are considering a licensing freeze to address businesses that have been squeezed by falling marijuana prices. The Cannabis Control Commission voted Thursday to schedule a public hearing on a potential freeze of new cultivation licenses and a temporary moratorium on approving additional canopy capacity.
Testifiers could also share their thoughts on freezing other license types including craft marijuana cooperatives, product manufacturing and micro-businesses.
The move, which comes as regulators are rolling out social consumption regulations, is meant to open up a conversation about how to support marijuana businesses and stabilize the market as an influx of supply has led to plummeting prices.
The average retail price for an ounce of flower reached a record-low $113.68 in December, down from $401.43 in December 2020, according to CCC data. The falling prices come as cannabis sales continue to rise, crossing the $9 billion gross sales mark on Feb. 4, largely thanks to high volume sales right before January's major snowstorm, according to a CCC representative.
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