Canadian companies dominate global marijuana trade, says report - From Ottawa Citizen

Canadian companies dominate global marijuana trade, says report - From Ottawa Citizen
Canadian companies dominate global marijuana trade, says report - From Ottawa Citizen

From The Ottawa Citizen:

The companies that are frantically building growing facilities to supply Canadians with marijuana are also in a unique position to sell their products and expertise around the world, says the report from New Frontier Data. The independent research firm’s report provides a snapshot of Canada’s cannabis industry.

Canadian cannabis companies are exporting their products to countries on multiple continents, the report notes.

“Canadian (companies) are allowed to export abroad, making them some of the first companies in the world to sign international cannabis trade deals,” says the report.

Canadian companies have a head start in the global cannabis marketplace, and few rivals. “Canada stands alone in terms of scope and importance on the world stage.”

A major factor giving Canadian companies a boost is the restrictions in place in the U.S. While some states have legalized marijuana for medical or recreational use, or both, the drug is still illegal at the federal level.

It’s difficult for U.S. cannabis companies to find investors or even banks that will take their business, the report notes.

In contrast, Canada is seen as a “safe haven” for investors and a proving ground for large, national-scale cannabis operations, says the report. Canadian companies are building cannabis operations that dwarf those in the U.S. in terms of size and production capacity, it says.

Read the full article at Ottawa Citizen

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