Friday, June 14, 2024
spot_img
HomeWeed NowCanada's Massive Cannabis Disposal: Over 3.7 Million Pounds Destroyed

Canada’s Massive Cannabis Disposal: Over 3.7 Million Pounds Destroyed

Emerging insights from Health Canada reveal that operators in the Canadian cannabis industry discarded a staggering 611.7 million grams (approximately 1.7 million pounds) of unpackaged cannabis flower and cannabis products in 2022 and the initial half of 2023, as detailed by MJBizDaily.

This figure constitutes roughly 16% of the total cannabis production in 2022. Although comprehensive data for the latter half of 2023 remains unavailable, the trends observed in the first six months hint that the industry may be gradually approaching a balance between supply and demand.

Farrell Miller, a renowned consultant in the cannabis industry, suggests that the primary cause for discarding packaged cannabis products is typically their age. This information is crucial for understanding the dynamics of product lifecycle management within the Canadian cannabis sector.

Canadian cannabis operators have now incinerated an astounding total of over 3.7 million pounds of cannabis and its by-products.

As the pioneer North American nation to decriminalize recreational cannabis in 2018, Canada has been grappling with a surplus production problem since the inception of the industry. Industry insiders attribute this phenomenon, at least partially, to the early valuation of publicly-traded cannabis corporations based on their production capacity rather than their sales performance.

Recent surveys shed light on the market dynamics. An October poll revealed that a significant 65% of Canadian cannabis users are sourcing their products from the legalized market. Additionally, a June 2023 report highlighted a whopping 157% growth in Canadian cannabis sales in the preceding two years.

- Advertisment -

Most Popular

Recent Comments