LOS ANGELES — Nearly two months after recreational marijuana became legal in California, less than 1 percent of the state’s known growers have been licensed, according to a report released Monday by a pot industry group.
The 38-page report from the California Growers Association says 0.78 percent, or 534, of an estimated 68,150 marijuana growers were licensed by the state as of Feb. 7. The association cited such obstacles to licensing as cost and regulatory barriers.
A study published last year by the University of California Agricultural Issues Center estimated the newly created state market for recreational marijuana should produce $5 billion in taxable revenue this year.
At the same time, it estimated the market for medicinal marijuana, which has been legal in California since 1996, would decline from an estimated $2 billion last year to $1.4 billion in 2018, while about 30 percent of pot sales would continue through the black market.
If more of the smaller, independent growers are not licensed by the state, taxable revenue of recreational marijuana is likely to be lower than anticipated as the black market continues to flourish, according to the new report.
