Medical marijuana producers are overproducing by 32 times the amount demanded by the market, according to a report from Cannabis Public Policy Consulting. The report, commissioned by the Oklahoma Medical Marijuana Authority, surveyed over 1,300 cannabis consumers in the state and uncovered insights into the medical marijuana industry.
The Medical Marijuana Authority (OMMA) has commissioned the report to gain deeper insights into the medical cannabis market's supply chain and demand in Oklahoma. The report aims to provide a comprehensive understanding of the industry's inner workings and help inform future regulations and policies.
Producers are flooding the market with excess supply, according to recent research. The supply-to-demand ratio for both regulated medical marijuana and medical cannabis is a staggering 64 to 1. This overabundance has far-reaching implications for the industry.
The report states, "The medical marijuana program has no less than 32 times more regulated marijuana necessary than licensed patient demand."
According to the recent report, the abundance of cannabis products on the market is contributing to the growing illegal cannabis trade, both at the grower and retailer level. The report suggests that the illicit market may even be more prevalent than we realize.
The findings from the OMMA commissioned report provide valuable insight into the medical marijuana industry in Oklahoma. The data reveals an overabundance of supply which is contributing to a thriving illicit market and has far-reaching implications for the sector. As more states consider legalizing cannabis, it's important that policymakers are aware of these issues so they can create regulations that protect both producers and consumers while ensuring public safety.
With this knowledge, we can work together to build better policies and ensure a safe environment for all those involved with medical marijuana production and consumption.