Canadian Cannabis Catch-Up
The legalization of cannabis, as well as the pros and cons of it, is a hot topic throughout the United States as well as countries around the world. In Canada, however, the topic is on fire with legalization supposedly right around the corner. Canada has had a medical cannabis program for more than a decade, and according to Promises by the current prime minister Justin Trudeau the legalization of recreational cannabis for adults with specific regulations will become a reality this summer. With the thought and promise of legalization looming around the corner provinces and municipalities across Canada are scouring to figure out how they will handle the many different aspects of recreational Cannabis legalization. There have also been some impressive statistics released surrounding the medical cannabis program in the country as well as other stories in the recent days. Join me for a Canadian cannabis catch up and learn more about what’s going on in regard to cannabis in Canada.
Metro Vancouver Cities Outlaws Cannabis Facilities
According to the Justin Trudeau Administration cannabis will be legal in Canada for adults who choose to utilize it recreationally starting July 1st, 2018. How the product will be distributed however is being left up to each province’s discretion. Recent news stories have been covering how many Metro Vancouver cities are opting out of allowing dispensaries as well as cannabis production facilities. White Rock, Surrey, Richmond, and Burnaby are a few of these municipalities. The story covering this in more detail buy CBC Canada states that many of the cities throughout BC that are allowing for dispensaries to operate tend to have their own police force. You can check out the full article here.
Legalization is Looming, and Cannabis Prices are Dropping
An unexpected thing is happening in Canada as legalization is looming around the corner. According to statistics published by Statistics Canada, the average cost per gram of cannabis dropped nearly 7.7% in comparison to just one year prior. According to the original story published in Bloomberg which you can find here it’s not a lack of demand that’s driving prices lower. In 2015 when Justin Trudeau was still campaigning on a promise to legalize the recreational use of cannabis the average price per gram for cannabis in the country was $8.43 Canadian. Last year the average price for a gram of cannabis in Canada was $7.43 Canadian which is roughly $6.05 USD.
Canadian Cannabis Stats
Statistics Canada recently released some incredible statistics surrounding the Canadian cannabis Market. Check out some of the highlights below
- In 2014 cannabis production in the country was valued at 3.4 billion which is more than both the tobacco and alcohol industries.
- Roughly 14% of the country’s population purchased cannabis in Canada in 2017.
- The total amount of cannabis purchased by roughly 4.9 million Canadians in 2017 was 5.7 billion dollars.
- Canadians between the age of 45 and 64 accounted for roughly 23% of cannabis purchases in 2017. This is up drastically in comparison to just 4% in 1975.
Check out some more of the stats in the original study here.
Canada is Spending Almost $1.5 Million to Research Recreational Cannabis
Canada could quickly become the leader in research when it comes to the effects of cannabis legalization. It was announced in late January by Bill Blair that Canada will be distributing 1.4 million dollars 214 different universities and hospitals across the country to lead these study efforts. 14 different research projects will receive $100,000 each to study what effects the legalization of recreational Cannabis has on the economy and society in Canada. To learn more about this check out the original article in Newsweek found here.