26% of produced cannabis got destroyed

"Canadian cannabis producers destroyed a record amount of unsold product last year"

Licensed cannabis growers destroyed a record quantity of unsold product last year, highlighting the industry’s problem with producing more than it can sell.

Data provided by Health Canada show that more than 425 million grams of unpackaged dried cannabis were destroyed between January and December 2021. That’s 26 percent of the total dried cannabis produced.

The federal agency, which regulates cannabis production, also found that more than seven million units of packaged cannabis, including extracts, edibles, topicals and dried cannabis, were destroyed in the same period.

“It is threatening the survival of a number of cannabis companies in this country. There’s no question about it,” said David Hyde, co-founder of CannaNavigators Inc., a cannabis licensing and regulatory consultancy.

To read the complete article, go to www.financialpost.com

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