Dankr.ca – Your Toronto Connection
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New Canopy Growth CEO David Klein is already imposing discipline upon the Canadian market by closing a staggering 58% of the Ontario company’s existing indoor production capacity and 29% of its total production area.
This move equates to a 7% reduction of the total Canadian indoor grow area, as reported by Health Canada, as of November 2019 and gives Canopy 5% of total indoor growth area for the country but 27% of total outdoor grow area.
This reduction in industry capacity will reduce supply and help balance Canada’s cannabis oversupply, ultimately to the benefit of pricing – assuming these greenhouses stay closed and Canopy does not just sell them to another operator.
