(Marijuana Moment) The Drug Enforcement Administration is pushing for an expansion in Marijuana and Psilocybin production for the research and development of therapeutic drugs.
The agency seeks to increase its original marijuana production quota by 500,000 grams to 2 million grams or 4,400 pounds in 2020.
DEA has revised the psilocybin quota to 1,500 grams, a 2900% increase from the initial quota of 50 grams. The agency also wants to up the production of psilocin to 1000 grams from an initial 50 grams.
The DEA has been shifting cannabis production quotas in the past. The new stance shows the significance of marijuana and psychedelics for therapeutic purposes.
The interested parties have been given 30 days to submit comments on the proposal after the notice gets published on Thursday.
Despite the new development, advocates are still concerned that the plants and fungi still remain in the most strict drug category.
On Monday, a federal court of appeal declined a petition that sought to compel DEA to relook its new directive in light of the Controlled Substance Act.
TLRY is down -0.73%, ACB is down -2.16%, WEED is down -0.83%.
