Don’t Worry, Canada Says it Can Provide Legal Weed to All Consumers

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Don’t Worry, Canada Says it Can Provide Legal Marijuana to All Users

CANADA is not worried about growing pressures for its cannabis growers to make more legal weed. In fact, advocates of recreational marijuana and the government itself are optimistic that it can meet demands in the midst of a seeming shortage in cannabis supply as lawmakers legalize the production and sale of pot next week.

The country is ready to to supply medical marijuana as it braces for legalization on Oct. 17, with 66 licensed extractors granted permission to sell weed to the public, according to Mathieu Filion, a representative of Health Minister Ginette Petitpas Taylor.

Some 160 existing producers have been given their license to do business in the legal cannabis market since June 2017 and the Canadian government expects the country’s licensed extractors have in excess of 11 million square feet of space as of end of June, including space for cultivation and office space and storage.

 

Capable to Meet Demand

In an emailed statement, Filion disclosed that based on current inventory and growth in terms of cultivation capacity, the legal weed sector has the capacity to supply marijuana products as consumers welcome its legalization.

Canada’s reaction comes in the midst of widespread concerns with regards its capability and readiness to legalize weed.
Only a select few of retail sites will be selling and cultivating on the first day of legal marijuana sales, and that includes one in British Columbia and none in Ontario, which is the biggest province.

Nova Scotia and British Columbia, on the other hand, anticipate to get a handful of supplies than ordered from licensed growers in the midst of lower crop production and lack in supplies of packing materials.

Meanwhile, based on a research conducted by the University of Waterloo and the C.D. Howe Institute, Canada’s supply of legal weed will only cater to around 30 to 60 percent of the country’s rising demand following legalization.

About Chris Miranda

Chris writes mostly about the latest in the stock market, finance, tech and business.

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