A billion grammes of cannabis are stashed in vaults throughout the country.

Early this week, Health Canada published industry-wide cannabis statistics for October, revealing that farmers around the country are stockpiling around 1.1 million kilogrammes of cannabis.

Following Canada’s second legal outdoor cannabis crop, the industry has reached an all-time peak. «Some of these approved producers will believe they can write it off and purchase it from a smaller manufacturer, which could result in a higher-quality product.»

The Valens Co. revealed this week that it would liquidate its cannabis oil goods at market-clearing prices. «You can’t give away a buck of mid-range THC product anymore. The competition has grown much more sophisticated as a result of customer demands».

Geoff Benic, CEO of Aleafia Health Inc., believes that one more outdoor harvest will reveal who the real winners and losers in the Canadian room are.

«A lot of them don’t want to expose their flaws in public, right?» he speculated. «Everyone is vying for the highest profit margin, the lowest cost spot, and the largest market share.

Source: https://www.bnnbloomberg.ca/cannabis-canada-weekly-a-billion-grams-of-unsold-legal-pot-may-spell-further-woes-for-the-industry-1.1552770