Canada Slashes Imports Of Cannabis, Needs More Stores To Meet DemandPosted by On

Over the last three years, Canada significantly trimmed imports of cannabis.

According to Marijuana Business Daily, the country legally imported around 20 kilograms (44 pounds) of dried cannabis and 200.35 milliliters (6.8 ounces) of cannabis oil.

Meanwhile, the Great White North exported roughly 3,740 kilograms (8,245 pounds) of dried cannabis for medical and scientific use in 2019, as reported by the outlet.

In addition, most of the shipments ended up in Germany.

Simultaneously, around 5,372 liters (1,419 gallons) of cannabis oil products manufactured in Canada were distributed internationally in 17 countries.

Some countries, as well as international medical cannabis businesses, criticized Canada’s government, for creating bias between domestic medical cannabis producers and its foreign competition.

The country’s officials have been accused of cannabis “protectionism” due to not allowing medical marijuana imports, the outlet said.

“From a regulatory perspective, there’s nothing I can see that would prevent those imports on a commercial basis,” said Morris and Associates Consulting’s Shane Morris.

“I wouldn’t be surprised if protectionism was a possible element, considering that it’s a very young, new industry,” continued the former Aurora Cannabis executive.

The country has also been witnessing the fickle growth of its physical cannabis retail space.

Even though Canada has seen the launch of 431 new stores since Jan. 1, that’s still “low on a per capita basis.”  

According to the Wall Street analyst Bryan Spillane, the total number of cannabis retail locations in the country amounted to 1,097, including 46 stores opened in August.

© 2020 Benzinga does not provide investment advice. All rights reserved.

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