Canada could reach an oversupply of legal pot as soon as the end of this year, depending on how the rollout of edibles and other next-generation products impacts supply, a U.S. cannabis research analyst says.
Adams’ comments come as the Colorado-based firm releases its latest research report, in which it forecasts legal recreational and medical cannabis spending in Canada to grow from US$570-million in 2018 to roughly US$5.2-billion by 2024. The supply situation has improved in recent months, enough for Alberta to lift its moratorium on new retail licences and Quebec to shift toward more regular cannabis store operating hours.
Industry watchers and players have said they foresee the full rollout of these next-generation products to come in 2020.The timing of the cannabis edibles market coming online in Canada has already been baked into their forecasts, Adams said. The latest figures from Health Canada showed that as of March 31, while monthly sales of dried cannabis amounted to 7,627 kilograms, there was 30,802 kilograms of finished inventory and 143,773 kilograms of unfinished inventory in the system.
globebusiness do you ever report any actual news or just bullshit?
globebusiness Cheap pot? Oh the humanity!
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