Canada’s Cannabis Industry Has Many Problems, the Biggest of Them All is That It’s a Cash-Burning Machine

Article by Chris Damas, Growth Op

NewsLegislationLegalizationInvestingExpertsBusiness Canada’s cannabis industry has many problems, the biggest of them all is that it’s a cash-burning machine The industry has not followed the classic boom and bust cycle, because the “tail” of the bust, which began in March last year, threatens to extend abnormally. Author of the article:Chris Damas Although cannabis licensed producers (LP’s) and even provincial cannabis boards repeat the mantra that more supply and lower pricing is required to drive out the black market, why are big LPs so intent on growing more cannabis and producing more derivatives? PHOTO BY JOSEP LAGO/AFP VIA GETTY IMAGES Article Sidebar Share TRENDING Injecting new life into your dried-out, baffed-out bud. What can a cannabis lover do to freshen up that stash? with Video MMA legend Frank Shamrock used cannabis 'on a daily basis' throughout his career. So, why has he stopped now? Ganja and replica gun among several items seized at 18-year-old’s home WeedMD is unlike most pot producers in Canada with Video The police sawed through a front door to seize 'half a joint' from a parent feeding their three-year-old Article content The cannabis industry began planning for a large recreational market when the Trudeau government made legalization a campaign promise in 2015. On October 16, 2018, the day before recreational cannabis use became legal, there were 129 medical cannabis sales and cultivation licenses given out by Health Canada.

The cannabis industry began planning for a large recreational market when the Trudeau government made legalization a campaign promise in 2015. On October 16, 2018, the day before recreational cannabis use became legal, there were 129 medical cannabis sales and cultivation licenses given out by Health Canada.

Two years later, the cannabis industry has become a plant growing, oil extracting behemoth, and Health Canada’s sanction of outdoor cultivation is only making the beast larger, with 540 licenses issued and counting. The latest data shows the potential for up to 400 tons of outdoor cannabis to be grown this year, as per BCMI Research, which could supply the whole industry for its entire THC extraction needs, and that’s from 1,344 acres of licensed growing area.

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