Wasted Weed: Canada’s Disposal of 3.7 Million Pounds of Cannabis Since 2018 Oversupply has been a real issue for the cannabis industry.
Wasted Weed: Canada’s Disposal of 3.7 Million Pounds of Cannabis Since 2018 Oversupply has been a real issue for the cannabis industry.
The size of the market was vastly overestimated. Every pothead wanted a slice of the business, so they all started up companies thinking there was unlimited growth potential. It was rapidly saturated and now we’re in the collapse and consolidation phase, exacerbated by the higher interest rates and inflation.
Canada’s population is similar to California, but it’s producing weed enough for a country several times its size.
Plus the black market still exists, albeit in a small scope, due to price, quality, variety, or loyalty reasons.
This is exactly what happened in Oklahoma
And people from all around Oklahoma traveled there just for their low prices.
Whats the overall legal status of cannabis in canada?
It’s legal all across Canada at the federal level. The provinces have the ability to regulate administrative aspects such as where it can be sold, who can sell it, how much it is taxed, where it can be grown, etc.
However, unlike the USA, criminal law is the same across the whole country. There are no provincial criminal codes. So, provinces have no ability to criminalize cannabis.
My state started up sales last year and I watched the prices drop a lot over the year. It’s mostly sold in eighths and the average eighth went from $40 to $20 for high quality products