The Massachusetts Cannabis Control Commission (CCC) has voted to implement a four-month moratorium on new cannabis cultivation licenses, Axios reports.
The licensing freeze, which starts on June 16, aims to address a trend of falling cannabis prices in the state. The average price of cannabis flower recently dropped to about $14 for an eighth of an ounce.
The changes will not affect retailers or cannabis microbusiness applications participating for the state’s social equity program. The licensing freeze will also not apply to existing operators who may want to increase or decrease their cultivation canopy.
The commission voted 3-1 to approve the changes, with Commissioner Bruce Stebbins casting the lone no vote.
Meanwhile, Massachusetts lawmakers recently passed a bill containing major changes to the cannabis industry’s regulatory structure that include doubling the adult-use purchase limit and shrinking the CCC to just three members.
