June 4 - 5, 2025
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Why Do New York Cultivators Have An Oversupply of Cannabis?

Editor’s note: This is an ongoing story. We will update this blog as new information and updates come to light.

New York’s slow licensed dispensary rollout has affected cultivators with ample amounts of ready-to-sell product. With too much biomass and not enough licensed processing or retail capacity, many farmers feel frustrated that they have nowhere to legally sell their wares.

As New York’s Conditional Adult-Use Retail Dispensary (CAURD) program restarts and the state welcomes multi-state operators (MSOs) with open arms, could that problem soon change? Here’s a closer look at the challenges facing New York’s cannabis farmers and the ongoing attempts to provide them with support as the state’s cannabis industry continues to evolve.

A growing problem in New York’s cannabis industry

New York’s cannabis farmers have been sounding the alarm on oversupply since June 2023, after 300,000 pounds of cannabis was cultivated but without enough manufacturers to create product or retail capacity to offload it all. Many were already scaling back operations, growing fewer cannabis plants than legally permitted due to concerns about the ability to sell it. 

“We are really under the gun here. We’re all losing money,” Seth Jacobs, a New York cannabis farmer, told the Associated Press. “Even the most entrepreneurial and ambitious amongst us just can’t move much product in this environment.”

The oversupply problems stem from the state’s sluggish cannabis industry rollout, which has been far slower than initially anticipated. Fortunately, the pace has quickened in recent months. According to the New York State Office of Cannabis Management (OCM), 48 licensed adult-use cannabis dispensaries have opened statewide, up from 26 in November 2023. While there is hope the rapidly expanding capacity could be enough to alleviate the oversupply, farmers remain in a tight spot until these retail operations ramp up.

Legal roadblocks have only created further challenges for the state’s farmers. Many of the currently operational retail locations were authorized under New York’s CAURD program, which prioritizes social equity applicants and “justice-involved” individuals. That program was frozen due to a court injunction issued in the wake of a lawsuit alleging the CAURD program’s prioritization of justice-involved applicants is unconstitutional. Although the lawsuit has since been settled and CAURD licensing resumed, the strain on farmers from months of delay remains. 

Since June 2023, the problem has only worsened for New York’s cannabis farmers. A recent survey of more than 30 small-scale growers conducted by the Cannabis Farmers Alliance returned a unanimously grim outlook. Farmers in both the low-THC hemp and high-THC marijuana segments of the cannabis industry have reported physical and financial exhaustion in major part due to the lack of retail capacity.

“First, the hemp industry disaster created $500,000 in debt because we built the infrastructure and investment but got virtually no return for three years,” one respondent said. “Then, the cannabis license opened and we borrowed more money in hopes that we would make money. Because of the lack of dispensaries open and the entire structure of the program, we are barely getting by and sinking further into debt.”

Is relief on the way for beleaguered farmers?

The state already took an initial step to help relieve pressure on farmers by opening up local farmers markets to host Cannabis Growers Showcases. These showcases offer opportunities to licensed growers and manufacturers to sell their products at designated events. However, these events still require the participation of licensed sellers under the CAURD program; growers and processors are unable to sell directly to consumers at these events.

As the oversupply problem worsens, some elected officials are discussing the prospect of launching a relief fund aimed at supporting the cannabis industry’s agricultural arm. New York State Sen. Michelle Hinchey (D-Saugerties) and Assemblywoman Donna Lupardo (D-Binghamton) announced plans for a cannabis relief fund called the “Recompense Fund” to help alleviate farmers’ losses.

“Our farmers are sitting on a cannabis oversupply that is losing value by the day,” Hinchey said in a statement. “This situation is undeniably an agricultural emergency, and establishing a cannabis relief fund for our struggling farmers should, without a doubt, be part of the solution.”

According to Hinchey, the Recompense Fund proposal would likely be introduced in 2024 as part of the upcoming state budget.

The duo also introduced the Cannabis Crop Rescue Act on April 20th, 2023 – yes, on 4/20 – which would have allowed licensed cultivators to sell directly to consumers through Sept. 30, 2023. It would also have authorized the OCM to create loan and grant programs to support farmers processing biomass into distillate. That bill was vetoed by Gov. Kathy Hochul.

In the meantime, the state’s Cannabis Control Board (CCB) authorized resolutions that would allow medical dispensaries to enter the adult-use market, as well as pave the way for multi-state operators (MSOs) — cannabis businesses with active operations in other legal markets that are often much larger than their local counterparts — to enter the state as well. So, help is on the way for New York’s beleaguered cannabis farmers, though for many it cannot come quickly enough.

Unlicensed shops proliferate amidst CAURD injunction

Meanwhile, as the state’s licensed farmers are unable to move their products, unlicensed operations are flourishing in New York City. State officials estimate roughly 1,500 unlicensed shops are operating throughout the five boroughs, and enforcement actions have ramped up in recent months. While licensed growers and retailers are subject to stringent testing standards for contaminants like mold and heavy metals, these unlicensed shops are not. Contaminated cannabis products have been found in unlicensed stores.

As regulators and law enforcement attempt to corral these unlicensed shops and the OCM works to expand retail capacity, farmers are left awaiting a resolution that has been anything but swift. In the coming months, the state’s ability to expand retail capacity will determine whether the licensed cultivators are able to recoup their losses and move product at a scale that will be profitable to them. At least some remain optimistic.

“This all will get worked out,” Jacobs told the Associated Press. “And I want to be there when it does.”

Stay connected with the New York cannabis market

The cannabis supply chain affects everyone in the industry, and the plight of licensed cultivators throughout the state impacts everyone. We’ll keep tabs on this developing story to bring you the latest as New York looks to expand its manufacturing and retail capacity in the coming months.

To stay plugged in to all things cannabis, keep an eye on the CWCBExpo newsletter and our social channels. And don’t forget to sign up for our next trade show, taking place June 5 – 6, 2024 at the Javits Convention Center in New York City. 

Solventless Extracts Market: By The Numbers

Outside of dab enthusiast circles, the term “solventless extracts” might raise eyebrows. While this market segment is far from ubiquitous, it is immensely popular with consumers who gravitate toward these high quality products. What’s more, this market segment seems to be growing quickly, especially in mature markets with educated consumers.

As cannabis legalization advances and the average consumer gains more knowledge about the plant and products, could solventless extracts be poised for explosive growth? Let’s explore the state of solventless extracts and its future by the numbers.

Solventless extracts: Highly popular among cannabis connoisseurs

Do you know someone who is obsessed with terpenes, able to pick a strain out of a lineup while blindfolded, and hyper-focused on quality? If so, they probably know a thing or two about solventless extracts, which are increasingly popular with the highly knowledgeable cannabis connoisseur crowd.

As consumers become more educated, this demographic is growing — it should come as little surprise then, that so too is the solventless extracts market. In fact, according to data from BDSA, solventless extracts saw demand increase by 132 percent from June 2021 through June 2022. And if recent sales estimates are correct, demand has only increased further since.

What are solventless extracts?

Solventless extracts are concentrates that come in several varieties, including as bricks of bubble hash, concentrates that can be consumed by “dabbing,” and rosin vape cartridges.

The solventless extract you’re most likely to encounter is rosin, which is made by subjecting bubble hash to heat and pressure to squeeze out a thick, syrupy oil packed with cannabinoids and terpenes. The bubble hash itself is made via ice water extraction rather than a solvent-based method such as hydrocarbon extraction, ensuring there are absolutely zero residual solvents in the final product.

Thanks to this solvent-free production process, solventless extracts are generally considered higher quality, “clean” products. They’re also known for retaining cannabinoid and terpene profiles that closely resemble the original cultivar used in production. For cannabis enthusiasts who really enjoy particular blends of terpenes or want to retain minor cannabinoids, this is a major draw. That reputation for quality is driving solventless extracts forward in a big way, even though they still only represent a small fraction of the larger concentrates market.

Growth factors driving the solventless extract market

Solventless extracts are having a moment, but what’s driving this market segment forward? What was once the preferred product choice of connoisseurs and experts is becoming more popular, and these growth factors are a big reason why.

1.    Rosin is on the rise

Rosin is the most popular solventless extract on the market today, representing 14 percent of total dabs sales in January 2023. Considering that all types of solventless extracts represented 16 percent of total dabs sales in the same month, it’s fair to say that rosin is king of the hill when it comes to the solventless category.

At the state level, rosin’s dominance is even more pronounced. Mature markets like Colorado and California saw rosin surpass 20 percent of total dab sales, suggesting that as more consumers are exposed to the solventless extract, more are willing to try it. That means that new markets may have some consumer education cut out for them, but could expect solventless extracts to make a splash as the market evolves.

2.    Solventless cartridges are gaining popularity

Historically, solventless vape cartridges haven’t been particularly noteworthy, making up just 1 percent of vape cartridge sales in January 2022. But that number has jumped considerably in the past year, reaching 4 percent by January 2023. While still a small fraction of the broader cartridge market, this four-fold growth signals that solventless cartridges are starting to catch on.

Much like rosin, solventless cartridges appear to be more popular in more mature legal cannabis markets. In California, for example, solventless cartridges reached 5 percent of all cartridge sales in the state in January 2023. Meanwhile, in Colorado, rosin cartridges racked up 15 percent of all cartridge sales, a high watermark for the market segment nationwide.

3.    Solventless extract prices are falling, but still at a premium

In general, the entire legal cannabis industry is experiencing price compression, as increased supply and an influx of brands drive prices down. According to BDSA, average retail prices for dabs fell 16 percent from January 2022 through January 2023 to $19.40 per gram. Rosin, specifically, fell by 18 percent during the same period, making these extracts more accessible to consumers with smaller budgets or those who want to try them for the first time but don’t want to spend a lot of money.

At the same time, despite falling prices, retailers can still charge a premium for solventless concentrates. So, while the overall price point declines and makes these products more accessible to consumers, they still fetch a higher price tag than solvent-based extracts. For example, rosin has an average retail price of $35 per gram, which is 83 percent higher than other varieties of dabs, including 73 percent higher than live resin, a solvent-based extract that is also considered a premium product.

Solventless extract competitive landscape

As the solventless market segment has grown, the number of brands in the space has increased as well. For example, In 2018, Colorado was home to just four rosin vape cartridge products. By 2021, that number had increased to 160. Every market is different — some have more solventless extract brands and some have fewer. However, almost every market seems to be growing in this regard, especially the more mature ones. Here are some notable brands in the solventless extract space and a closer look at some of their top products.

  • 710 Labs: 710 Labs operates in California and Colorado. The company is known for its many concentrates as well as a range of solventless products. The solventless line from 710 Labs includes bubble hash, rosin, and solvent-based extracts. 710 Labs also produces rosin gummies with strain-specific compound profiles.
  • DabLogic: DabLogic works with Colorado cultivator Verde Natural to produce bubble hash, rosin, and solventless vapes for both the Colorado and California markets. It’s known for its handmade solventless hashish product.
  • Dialed In: Dialed In is a Colorado-born brand that offers a unique solventless product — rosin gummies. Dialed In gummies are made with rosin manufactured in collaboration with 35 different cultivators and prioritizing organic, small-batch production processes.
  • Jetty Extracts: Jetty Extracts is known for concentrates of all types and offers a solventless line of solventless vape cartridges. In fact, Jetty held three of the top six spots for solventless vape cartridges in California as of May 2021, according to BDSA.
  • The Flower Collective: The Flower Collective produces solventless extracts that are added as solventless concentrates to their pre-rolls rather than using them for vape cartridges or selling them as dabbables. The Flower Collective offers Bubble Joints and Bubble Blunts, pre-rolls infused with solventless extracts that boost potency and flavor.

Solventless brands in New York

As the solventless concentrates space grows, expect more brands to break in and make a name for themselves. In New York, brands like Marijuana Farms New York (MFNY), Hudson Cannabis, CWCBExpo exhibitor Fat Nell, and Luci are making waves in the licensed market with fan-favorite solventless extracts. Something tells us the solventless wave has yet to crest, so keep your eye out for the next innovative brands to enter the space.

Solventless extracts are adding new value to concentrates

In mature markets, solventless extracts are becoming a household name. It seems to be only a matter of time before that’s the case in new markets as well. Although solventless concentrates require a bit more consumer education than other products, they sell at a premium and generate some rave reviews. If you’re interested in the concentrates market, you can’t overlook solventless extracts.

A conference attendee in a brown jacket stands among a crowd to address a speaker during a session at CWCBExpo.

What You’ll Learn At A Cannabis Trade Show

Cannabis trade shows offer a great opportunity for industry professionals and entrepreneurs to network, learn, and showcase their products and services. Whether you’re a seasoned member of the industry or just beginning your journey, cannabis trade shows serve as a goldmine of knowledge and networking opportunities. In this blog, we’ll explore what you can expect to learn. 

What you’ll learn at a cannabis trade show 

From groundbreaking new products to regulatory compliance updates, B2B trade shows provide the insight and opportunities necessary to succeed in the cannabis industry. If you want to stay on top of industry trends and network with some of the leading professionals and brands in the space, these conferences are the place to be. Here’s some of what you can expect to learn when you attend a cannabis trade show.

Industry trends and insights 

The cannabis industry is always evolving, so staying on top of trends — from what customers are most interested in buying to the most effective brand strategies — is an important part of retaining a competitive edge. Cannabis trade shows provide expert panels and Q&As that can help you stay up to date on recent developments in the industry, providing actionable insights that you can immediately implement for your business. 

When attending panels and speaking sessions at a cannabis trade show, expect to learn about the market and size of the cannabis industry. You’ll also learn the latest regulatory developments in your market, the hottest products that consumers are looking for, and how to build successful partnerships with other companies.

Product knowledge 

The best cannabis trade shows are home to a wide range of businesses hailing from every market segment in the industry, including those with the most popular consumer products of the day. Take the opportunity to connect with these B2C exhibitors and learn about their products and how the market is reacting to them. You may even have the opportunity to observe some product demos, giving you the chance to see firsthand just what makes these products so special. 

Cannabis trade show floors are replete with new product innovations, from vaporizers and extracts to infused cannabis beverages. To understand the industry, you need to know what products consumers are buying, and a trade show can be a great way to see some of the latest and greatest consumer products out there. 

Regulatory compliance and legal issues 

Regulatory compliance and legal issues are critical concerns for businesses in the cannabis industry, where the rules are constantly changing as states work to set up their legal markets. Cannabis trade shows often showcase exhibitors and host sessions that focus on licensing, testing, and other regulatory requirements. Trade shows like CWCBExpo also offer education sessions led by industry experts to provide attendees with information on regulatory and compliance requirements to help navigate the complex legal landscape of the cannabis industry. 

Marketing and branding 

Top quality cannabis marketing firms are bound to attend cannabis trade shows, making these expositions a great opportunity to meet your next marketing team. Seminars and workshops focused on marketing and branding are often led by experts in the field, giving you the insights you need to effectively build your brand and spread the word to your target audience. 

If you want to take your business to the next level, you could partner with these companies to get professional marketers in your corner and start reaching your customers in new and creative ways. Branding and marketing is essential to standing out in a crowded market, and trade shows are a great place to start.

Cultivation and extraction

Cannabis trade shows also bring together plant-touching experts in cultivation and manufacturing, the critical players who underpin the entire supply chain of the cannabis industry. By attending a cannabis trade show, you’ll likely gain knowledge on topics ranging from pest management to sustainable growing practices. If you’re a retailer, you can use this opportunity to connect with potential suppliers and find top quality flower and extracts. After all, there wouldn’t be a cannabis industry without the cultivators who grow the flower and the manufacturers that process it into a wide variety of consumer products.

5 tips to get the most out of trade show educational seminars   

Each CWCBExpo conference offers cutting-edge seminars and educational sessions to provide direct industry insight and knowledge to attendees. These sessions are designed to provide attendees with valuable information regarding the latest trends, emerging technologies, and the best business practices for success. To make the most out of the trade show’s education sessions, attendees should follow a few key tips. 

1. Plan ahead

Looking at the agenda helps you get the most out of the education sessions at cannabis trade shows. With so many speakers and seminars to choose from, it can be overwhelming to navigate the schedule. Research and identify the topics you’re most interested in so you can create a game plan and prioritize sessions based on your interest. Not every panel will apply to your business, so use those times to walk the show floor and meet exhibitors. On each day of a cannabis trade show, there’s likely a speaking session that will apply to your business so come each day with an itinerary to get the most out of your visit.

2. Take notes

Bring a notepad and pen or pencil to every session you attend so you can take detailed notes to analyze after the trade show. Many of these sessions will include comments from industry leaders that you can use to boost your own business, and you never know when the next helpful tidbit of information might be shared. So pay close attention and jot down any good ideas you hear, as well as your thoughts on how they might apply to your business. 

Forgot your journal and pen? Not to worry — you’ll likely be able to pick them up as giveaways from exhibitor booths on the floor. And you can always use a note-taking app on your phone to record the advice you get from each session.

3. Engage with speakers 

Take the opportunity to ask relevant and insightful questions during Q&A sessions, and be sure to network with speakers after the session if possible. This is a valuable chance to exchange contact information and build relationships with experts in the industry.

Meeting speakers not only gives you an introduction to a leader in the space, it also gives you a foot in the door to their often expansive networks. You may also have the opportunity to collaborate with speakers or seek their guidance following the seminar. By actively engaging with industry experts, you can enhance your professional network, gain valuable mentorship and even open doors to work opportunities. 

4. Network with attendees 

Networking with other attendees is also a great way to make the most out of educational sessions at cannabis trade shows. Engage with other participants and exhibitors by introducing yourself and exchanging contact information – you never know who you might meet or what opportunities may arise from these connections. 

At the show “Where Deals Get Done,” CWCBExpo offers access to breakout rooms where you can sit and chat with any other attendees that you may want to have meetings with, giving you the chance to cement any promising new relationships. Many trade shows also offer post-session gatherings or events for attendees to gather and network in a more casual setting. CWBCExpo promotes a variety of post-show networking events where deal-making and business-building continue beyond the show floor daily experiences and extend into the evening. An example of a well-known industry networking and festive event that CWCBExpo offers is the Industry Yacht Party.

Yacht Party, 2023
Yacht Party, 2023

 

5. Follow up  

Following up after attending an education session is just as important as engaging with the speakers and anyone else you meet. Be sure to review your notes and organize the information you’ve gathered to help reinforce what you’ve learned and identify key takeaways to apply to your business. You can also follow up with speakers and attendees who you exchanged contact information with. Thank them for their time and expertise, and consider arranging a follow-up meeting or call to discuss further collaboration.

Additionally, sharing what you’ve learned with your team or online through social media like LinkedIn can help to build connections and establish yourself as a thought leader in the cannabis space. Set some time the week following a trade show to reach out to your new connections and offer additional time to discuss how you might be able to support one another’s goals.

What educational sessions are at CWCBExpo? 

There are many educational sessions available for attendees of CWCBExpo. The following are examples of the types of educational sessions that were on offer during CWCBExpo 2023:

  • Social Equity: Entrepreneurs, Change Makers, and Heroes 
  • The Future of Cannabis Tourism in the Big Green Apple and Beyond 
  • Compliance Issues for Cannabis Business Owners: Taxation, Liability, and the ERTC Program 
  • The Evolution of Cannabis Marketing from West to East
  • Consumer Products: What are the Most Popular and Hottest Products? 
  • Packaging Cannabis Products Safely & Responsibly 
  • Technology to Maximize ROI for Grow Facilities From Seed to Processing 

Make the most of CWCBExpo 

With extensive educational sessions and a diverse exhibitor line-up, CWCBExpo is the perfect event for cannabis businesses seeking up-to-date insight into the industry. Whether you’re a cannabis business vet or an industry newcomer, the exhibitors and education sessions at CWCBexpo offer a wealth of information and insight on a wide range of topics. If you missed out on CWCBExpo 2023, don’t worry — we’ll be back next year on June 5 – 6, 2024, with a rich lineup of speakers, exhibitors, and attendees dedicated to building the cannabis industry in New York and beyond.

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