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CAN: Cheap outdoor crop could potentially create an oversupply scenario

Aleafia Health said the cannabis it grew during its initial outdoor harvest this year resulted in some of the cheapest legal pot grown in the country, a sign that thousands of kilograms of inexpensive cannabis could soon hit the market and create a potential oversupply scenario.

Toronto-based Aleafia said on Monday it grew 10,300 kilograms of outdoor-grown cannabis at its 26-acre Port Perry, Ont. facility this year, with cannabinoid levels near identical to similar strains grown indoors. The company said the total all-in cash cost to harvest the outdoor grow, which includes facility capital costs, came to $0.10 per gram, one of the lowest figures in the industry.

“Today, we can definitively say that Aleafia Health is among the lowest-cost producers while realizing close to the highest revenue per gram sold among our peers as demonstrated in our upcoming third-quarter financial results,” said Geoff Benic, Aleafia’s chief executive officer, in a statement Monday.

Read more at bnnbloomberg.ca

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