A new survey conducted in the state of Maryland has found that every month, adult residents consume an estimated five more grams of marijuana than their counterparts throughout the United States. Cannabis Public Policy Consulting carried out the survey, which involved thousands of residents in Maryland.
The company’s director, Mackenzie Slade, and director of research, Michael Sofis, shared the results with a work group on cannabis legalization. The results show that one in five adults admitted to using cannabis every day or almost every day with more than one in three adults admitting to using the drug on a monthly basis.
The behavioral economic study also found that residents in the state consumed higher cannabis volumes than others across the country, using about 25.4 grams on average every month. This is a bit high, especially when compared to the 20.2 grams consumed by residents in other states that have legalized the recreational use of marijuana. The survey’s findings also show that cannabis consumers were willing to not only pay $14 per gram for marijuana but also drive some 20 minutes to get it.
Sofis stated that the findings were shocking and reflected an underlying motivation for marijuana.
Maryland legalized medical cannabis in 2014, making it accessible to anyone in the state with a medical marijuana card. During the November 2022 elections, voters in the state approved a measure on the ballot to legalize the recreational use of the drug for individuals aged 21 and above. This is set to take effect on July 1, 2023, once legislators establish a system for the sale of recreational cannabis.
Legislators have been tasked with deciding how the system will operate, which includes how tax revenue from the industry will be collected and allocated as well as how licenses will be issued.
The survey also estimated that during the first year of implementation, the total demand for marijuana in the state would be 824 million grams. This includes medical, homegrown and illegally sold marijuana. In their report, the consultants stated that the state’s marijuana demand was most probably in the top 20% of all states.
Sofis recommends that at least 300 dispensaries be launched in Maryland to meet the demand, with a tax rate of no more than 20% being imposed. He then highlighted the importance of ensuring that the demand was not being under- or oversupplied and emphasized the importance of allowing regulators to have production-management levers. This, Sofis noted, would help prevent a surplus in the market.
The high statistics on marijuana consumption in Maryland create opportunities for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which provides cultivation equipment that can be used by homegrowers and commercial grow operations.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
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