Finance Forex

Canadian minister of pot: Cannabis inventory ‘sufficient’ to meet demand

Canadian Minister Of Pot: Cannabis Inventory ‘sufficient’ To Meet Demand chapter is one related to the Finance, Forex lists, published over our writer Erick Emerson at January 30, 2019, that blogpost can search during these tags list Canadian, Cannabis, demand, inventory, meet, minister, pot, sufficient. We are blissful to pleasant you plus providing that anothers post attributed finance as well I'm always updating those part daily.

A day after Canada’s health agency released recreational cannabis sales data collected via the country’s tracking system, Canada’s minister for the Cannabis Act said Wednesday there is enough pot in the country to meet demand.

Pot stocks were mixed, but higher on balance with the ETFMG Alternative Harvest ETF

MJ, +1.33%

 up 2.4%, and the Horizons Marijuana Life Sciences Index ETF

HMMJ, +0.56%

 up 1.8%.

Recreational cannabis sales began Oct. 17 in Canada and there were widespread reports of shortages across the country in the early weeks. Provinces blamed the country’s licensed cannabis producers and as the first batch of earnings rolled in — which contained information for roughly the last two weeks of September ahead of legalization — executives blamed provincial buyers for ordering too little pot.

Under the Cannabis Act, provinces are largely responsible for managing the nuts and bolts of operating the market, such as regulating retail sales and distribution.

Consumers bought 20,650 kilograms of cannabis flower during the first two and a half months of recreational sales and 5,408 liters of oil, according to the Health Canada data. Sales slowly increased over the course of the nearly three months.

Blair is referring to the total amount of inventory catalogued by the public health agency. In December licensed producers had stockpiled 109,236 kilograms of cannabis that is not ready for sale and 19,085 kilograms of inventory ready for sales, Health Canada reported.


OGI, -0.14%


OGRMF, +1.02%

 which reported fiscal first-quarter earnings Monday, said that as of Nov. 30 it had 12,276 kilograms of dry cannabis inventory and 6,449 liters of…

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