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Michigan’s cannabis regulator warned operators about an increase of robberies among delivery drivers.
The Michigan Cannabis Regulatory Agency (CRA) said that there are over dozen reports of drivers being robbed while delivering marijuana products, reported Fox 17.
All the robberies happened at residential delivery addresses in Ypsilanti, Ann Arbor, Lansing, Westland, Detroit, Ferndale, Hamtramck, Hazel Park and Utica. Some drivers were held up at gunpoint and robbed of their vehicles.
“This is a concerning trend that not only puts drivers at risk but also undermines the state’s legal cannabis market,” CRA Director Andrew Brisbo said.” We urge marijuana businesses to take all necessary precautions and report any suspicious activity to the proper authorities.”
Oversupply Leads To More Consolidation
Cannabis sales in Michigan hit $203.4 million in November, representing the largest year-over-year growth since February. Total 2022 cannabis sales reached $2 billion.
This rising trend is only a reflection of another one – high demand for weed among Michiganders, a trend retailers seem to be keeping up with.
According to Robin Schneider, director of the Michigan Cannabis Industry Association, the market is even facing oversupply, which led to consumers paying less than ever for cannabis, with an average retail cost for an ounce ranging between $60 and $95.
Schneider expects this will lead to market consolidation.
“A number of businesses will likely sell, go out of business, and we’ll see more mergers and acquisitions as businesses attempt to combine resources and stay afloat,” he said. “It’s really turning into a scenario where the best brands will win, and the consumers are dictating the winners and losers.”
Photo: Courtesy of Rowan Freeman on Unsplash
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Image and article originally from www.benzinga.com. Read the original article here.