business

Canada Destroyed Over 3 Million Pounds of Cannabis Since 2018

Published

4 months ago

January 9, 2024

admin

Summary: Since 2018, Canada has destroyed over 3 million pounds of unsold and unpackaged cannabis, highlighting challenges in the country’s legal cannabis market, including oversupply and regulatory hurdles.

Regulatory Challenges Lead to Massive Cannabis Waste in Canada: Destroyed Over 3 Million Pounds Since 2018

In a striking development within Canada’s legal cannabis industry, over 3 million pounds of unsold and unpackaged cannabis have been destroyed since the country legalized the substance in 2018. This significant amount of waste underscores the challenges faced by the Canadian cannabis market, including issues of oversupply and stringent regulatory frameworks.

The destruction of such a large quantity of cannabis points to a disconnect between production and market demand. Despite the initial excitement and potential for growth in the Canadian cannabis industry, producers have struggled with an oversupply of product, leading to a surplus that the market cannot absorb.

Regulatory hurdles have also played a role in this situation. Strict regulations around packaging, marketing, and distribution have made it difficult for producers to effectively sell their products. These challenges are compounded by competition from the illicit market, which continues to thrive due to lower prices and fewer restrictions.

The situation highlights the need for a more balanced approach to cannabis production and regulation in Canada. Producers are calling for reforms to the current regulatory framework to allow for more flexibility and market responsiveness. This includes revising packaging and marketing regulations, as well as improving distribution channels to better match supply with consumer demand.

The destruction of unsold cannabis also raises environmental concerns, as the cultivation and disposal of such large quantities have a significant ecological footprint. This issue underscores the importance of sustainable practices in the cannabis industry and the need for more efficient production and supply chain management.

As Canada continues to navigate the complexities of its legal cannabis market, this development serves as a reminder of the need for ongoing adjustments and reforms to ensure a sustainable and profitable industry.

Why It Matters: The destruction of over 3 million pounds of unsold cannabis in Canada since 2018 is a significant indicator of the challenges facing the country’s legal cannabis market. It highlights the need for regulatory reforms and more efficient market strategies to address issues of oversupply and competition with the illicit cannabis market.

Potential Implications: The situation could lead to changes in Canada’s cannabis regulations, potentially easing restrictions on packaging and marketing. It may also prompt cannabis producers to adopt more sustainable practices and efficient production methods to align better with market demands.

Source: MJBizDaily

Subscribe to our weekly newsletter:

We hope you enjoyed this news update. Check back with us daily to see what’s going on in the world of cannabis and psychedelics. And make sure to subscribe to our weekly newsletter, the Cannadelics Sunday Edition with a the best stories of the week:

AI Disclaimer: This news update was created using a AI tools. PsychePen is an AI author who is constantly improving. We appreciate your kindness and understanding as PsychePen continues to learn and develop. Please note that the provided information is derived from various sources and should not be considered as legal, financial, or medical advice.

Source link

business

Marijuana rescheduling leaves regulators and sellers cautiously optimistic

Published

5 days ago

May 14, 2024

admin

A move by the Biden Administration to change how marijuana is treated by federal authorities was met with cautious approval by Massachusetts state regulators, cannabis sellers, and national marijuana advocates alike.

The Drug Enforcement Agency will drop marijuana from the list of banned substances found under Schedule I of the Controlled Substances Act, where it currently sits alongside heroin and LSD. It will instead move it to Schedule III, among the likes of Tylenol with codeine and anabolic steroids. This follows the recommendation of the Department of Health and Human Services

“Rescheduling cannabis is a monumental step forward for the federal government, one that can open new avenues to research, medical use, and banking for the regulated industries states like Massachusetts have built across the country,” said Ava Callender Concepcion, the acting chair of the Bay State’s Cannabis Control Commission.

Read the rest of this story on BostonHerald.com.

Source link

business

Thailand Considers Relisting Cannabis as a Narcotic

Published

1 week ago

May 9, 2024

admin

The Thai government is contemplating the relisting of cannabis as a narcotic due to concerns over its recreational use and potential societal harms. This reconsideration comes after cannabis was decriminalized in June 2022, which led to a surge in its availability and use.

Cannabis Conundrum: Thailand Reconsiders Legal Status Amidst Rising Concerns

The recent decriminalization of cannabis in Thailand has ignited a complex debate over its legal status and societal impact. While the policy aimed to boost the medical marijuana industry and provide economic opportunities, the unintended rise in recreational use has sparked discussions about a potential reclassification.

Public Health Minister Anutin Charnvirakul, a key advocate for the decriminalization, emphasized that the policy was intended to promote medical use, not recreational. However, the current legal framework lacks clear regulations governing recreational use, leading to widespread availability and potential misuse.

The Bhumjaithai Party, led by Anutin, initially pushed for the delisting of cannabis to benefit the medical industry and provide economic opportunities for Thai citizens. However, the subsequent surge in recreational use, particularly among youths, has raised concerns about potential health and social consequences.

Opposition parties have criticized the government for inadequate regulations and are advocating for cannabis to be relisted as a narcotic under the Narcotics Act. They argue that the current situation exposes young people to potential harm and lacks sufficient safeguards.

A recent poll revealed that a majority of Thais support stricter regulations on cannabis use. Concerns have been raised about the potential impact on public health, particularly regarding mental health issues and addiction, especially among youths. Additionally, there are worries about the potential for increased crime and social disorder.

The government now faces the challenge of balancing the economic benefits of a burgeoning cannabis industry with the need to protect public health and safety. Finding a solution that addresses the concerns of both advocates and critics will be crucial in determining the future of cannabis in Thailand

Why It Matters

Thailand’s shift in cannabis policy has garnered international attention, serving as a case study for the complexities of drug policy reform. The potential reclassification of cannabis underscores the challenges of balancing economic opportunities with public health and safety considerations. The outcome of this debate will have significant implications for Thailand’s legal landscape, public health policies, and the future of its cannabis industry.

Potential Implications of Relisting Cannabis as a Narcotic

If cannabis is relisted as a narcotic, it could lead to stricter regulations on its cultivation, distribution, and use. This may impact the growth of the medical marijuana industry and limit access for patients who rely on cannabis for therapeutic purposes. Additionally, it could result in increased criminal penalties for possession and use, potentially leading to a rise in incarceration rates.

Alternatively, if the government opts to maintain the decriminalized status, it will need to implement robust regulations and public health campaigns to mitigate the risks associated with recreational use. This includes age restrictions, educational initiatives, and support systems for individuals struggling with cannabis dependence.

The Bigger Picture

The debate surrounding cannabis legalization and regulation is a global phenomenon, with countries around the world grappling with similar challenges. The Thai government’s decision regarding cannabis will likely be influenced by international trends and best practices in drug policy reform. It is crucial to consider the experiences of other nations that have legalized or decriminalized cannabis, examining both the successes and challenges they have encountered.

Source: Thai PBS World

Source link

banking

“A big deal”: What the feds’ move to reclassify marijuana means for Colorado cannabis

Published

3 weeks ago

May 1, 2024

admin

Cannabis advocates in Colorado cheered the Biden Administration’s reported move to reclassify marijuana and said the decision likely would reduce businesses’ tax burden significantly.

Industry leaders cautioned that such a move — if finalized — would not resolve some major challenges facing the industry, such as limited access to banking. But they pointed to the symbolic importance of preparations by the U.S. Drug Enforcement Administration to downgrade the substance’s drug classification.

A man pours cannabis into rolling papers as he prepares to roll a joint the Mile High 420 Festival in Civic Center Park in Denver, April 20, 2024. (Photo by Kevin Mohatt/Special to The Denver Post)

Read the rest of this story on DenverPost.com.

Source link