Cannabis derived taxes are politically popular and have nudged many skeptical lawmakers to accept cannabis legalization in their state. States like Illinois generate hundreds of millions of dollars from recreational MJ sales, California rakes in over $1 billion annually. New York’s emerging cannabis market is also expected to eventually yield over $1 billion annually.
Minnesota’s new cannabis tax took effect on July 1, and includes hemp-derived edibles and beverages. Revenues from this category are much lower than expected with the first month bringing in $594,461 from the associated 10 percent sales tax.
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09.06.2024
Signs of US economic downturn send ULSD prices to 3-year low
Shifting economic conditions are raising the possibility of a US recession. The US Bureau of Labor Statistics (BLS) released the jobs report on Friday September 6, which showed that...
09.06.2024
US fat market slides on pressure from soybean oil, energy complex
Used cooking oil (UCO), distillers’ corn oil (DCO) and yellow grease all traded lower on Friday September 6 due to pressure from the sinking heating oil and soybean oil...
09.06.2024
Sluggish trade volume keeps weekly animal protein prices flat
US animal protein prices were steady on Friday September 6, with market participants indicating light traded volumes for products.
Weekly wrap-up
Prices for US animal proteins were little...