Canadian Indoor Grow Capacity to Decline 7% on Canopy’s Announced Cuts

Article by Michael Regan and Craig Behnke, Marijuana Business Daily

Canadian indoor grow capacity to decline 7% on Canopy’s announced cuts

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.

Read the full article here.

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