## New York Cannabis Farmers Face Financial Hardship as Relief Fund Excluded from State Budget
Efforts to secure financial relief for New York's 289 licensed cannabis farmers have stalled, leaving them disheartened and facing significant financial losses. Despite the advocacy of Assemblywoman Donna Lupardo and Sen. Michelle Hinchey, the 2024 state budget will not include the proposed Cannabis Farmer's Relief Fund.
This decision comes as a major blow to farmers who have been struggling with limited retail outlets and an oversupply of cannabis. The legal cannabis market in New York, initially projected to be one of the nation's largest, has instead been marked by frustration and financial hardship.
Farmers have cultivated vast quantities of cannabis, enough to supply 1,500 stores, yet face a reality of barely 50 legal dispensaries open for business. This mismatch has left approximately 250,000 pounds of cannabis unsold, representing a critical loss in revenue and potential tax income for the state.
The absence of financial relief in the state budget underscores the ongoing challenges faced by New York's cannabis industry and raises concerns about the future viability of these farming operations. As the state anticipates substantial revenues from the cannabis sector, the reality on the ground for farmers paints a grim picture of struggling to manage unsold stock while seeking support.