Canada's cannabis industry struggling amid high excise taxes, competition from illicit market: experts

found that 33 per cent of cannabis users still buy from illicit sources, at least occasionally.

"The competition with the illicit market, compounded by an overbuilt legal cannabis industry, has caused price compression across the board. We expect the sector challenges to remain for years to come. And as a result, the sustainability of this legal sector is in question," Klein told investors. "You can see the proportion of this whole excise tax, and it's way out of whack," he said. "Our preference would be to go back … 10 per cent excise on products across the board,""This is not the time to be taxing cannabis into oblivion. Get greedy later. Don't do it now," he told CTVNews.ca in a phone interview on Thursday. "Let's let the legal industry thrive before you start to tax it into oblivion.

"I don't buy argument because, like it or not, the industry has grown in the past year and they shrunk," he said. "It's disingenuous for them to just throw this on the government and just say it's all the government's fault.of the country's Cannabis Act.

😂😂😂

export it

I grow my own through amcpr, up to 25 plants. I dont need to buy

It's always the taxes. This country is fked.

Shocking. I totally didn’t see this coming. It’s now an extremely over saturated market:

So surprised

Furthermore, I will seek to raise the present Home-Grow Limit if elected from 4plants and 30seeds To 30 plants and unlimited seeds. As small home farms are subject to environmental factors, including drought, invasive bugs, and contamination resulting in the loss of the crop.

This is why I will fight to end this monopoly and red tape approval process and waiting times for CRAFT-FARMERS to have as much fair competition as any craft brewery or winery seeking to enter the legal resale market.

Plain and simple the industry is run by a monopoly of 25growers across the country and numerous re-sellers who only have a focus on Profits over Quality which is why this Grey-Market Still exists

Only government could loose money selling weed 😂

Well yeah, I mean, you push concentrates and vaporizers, but then impose a 30% tax on all vaping products in Canada You say vaping is a cheaper alternative and everyone should quit smoking, but then make it impossible for the working class to afford it? Jam your Taxes.

govt overreach once again.

What do you know high school kids can run a business better than the government can

Corporate greed!

wow, so much for legalizing eliminating the illicit market [believed the non-pot smokers]!? 😅🤦‍♂️

Probably because the illicit market has more experienced growers who've been doing this their entire life. When Cannabis was legalized, one of the few things the extremely impoverished had to survive was being disproportionately given to white upper class white people on day one.

That is the saddest looking clone , no wonder they can't grow shit . If a company has spent millions and their cloning still looks like that , I can imagine whaT the final product looks like . Support you local farmer not the shitty corporations

Another lib failure .

Lies, they make tons of money. This is just a way to get away with laying off thousands of workers and getting away with it

Are we surprised? It's Canada ffs .like the banking industry,telecom and now Marijuana..they over regulate .and people get screwed..can't even succeed with first to market

I live in a town of 30 000 people there are prob over 10 dispensaries for fun. The same town has only 2 beer stores and one liquor store for the same population.

Just one more trudeau disaster!!!

Canada struggles amid high taxes.

Syria : it's not our fault that the war happened, We have no electricity no gas, We have nothing that a human being can possibly want. We need your help. Lift the Sanctions on Syria at least for a month USAGov UN Syria SyriaNeedsHelp SyriaQuake

Give the entire industry to our Native Brothers and Sisters. 🤷🏼‍♂️

I'm growing my own to smoke now, fuck your taxes and shitty factory weed. Farm2Joint

Real mystery why no one wants to do business here

I'm no longer using medical cannabis buds because it's about the same quality as over the counter canibus dispensaries so I get by it's about the same price as twice as much illegal bikers cannabis buds

Come to Alberta. Danielle Smith will give you $20 Billion to sweep the floor.

only the JustinTrudeau liberal_party could screw up selling weed. If we just charged GST and income tax on it we would have been winning.

That’s what happens when you try to regulate the pioneers out while making way for rich investors with lots of influence.

Over-hyped market and the lack of federal legalization in the US worked to create over-supply. Established black market (running from your bandmate's basement) and the usual egregious taxation were entirely predictable. I hope the laid off workers find good jobs quickly.

Really do not care.

Another failed government initiative

Geee, who could have predicted that🤔

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Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesCanopy Growth Corp. will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility and consolidate some of its cultivation operations. Legalizing cannabis has caused so much damage to our country. Mental health issues and violence have skyrocketed. Every action = reaction. Consumers clearly weren't going to pay 12.00/gr. Top heavy always falls over. tradesecret Remember when Trudeau said legalizing pot would pay off his massive spending debts? 🤔
Source: CP24 - 🏆 30. / 67 Read more »

Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesBREAKING: Canopy Growth Corp. will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility and consolidate some of its cultivation operations. ottnews Very bad news for the people being laid off. That being said, less boof being grown by Canopy is net good news! A huge issue facing down the cannabis industry in Canada is the weird restrictions in place on how much can be supplied in what form. For example. 10mg of cannabis per edible package makes almost no sense. It's not only costly and not competitive, it's wasteful. I guess these companies thought all Canadians were eager to smoke weed. Wrong.
Source: ctvottawa - 🏆 29. / 67 Read more »

Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesThe move is meant to help the company reach profitability and enable sustainable and long\u002Dterm growth, said Canopy Growth\u0027s chief executive. Well this legalization didn’t fair well. Guess illegal pot is cheaper Like I said from beginning, it will return to mom and pop growers. There is not enough profit for big business to sustain itself. Remember mom n pop can grow for much less/ LB. close em all.....stop selling to kids
Source: TheTorontoSun - 🏆 23. / 68 Read more »