Canada Projected Marijuana Sales Hits $5 Billion
In the world of marijuana, polices and laws are changing daily. Canada has just recently pass new laws and regulations, making marijuana legal. Marijuana is expected to go on sale for recreational use on Oct. 17. Currently Canada medical marijuana program has been successful bringing in hundreds of millions of dollars a year. Officials are seeing recreational marijuana as a extensions of the pre-existing program.
Which will help to bring in additional funds. That can then be used to better serve local communities and cities, throughout Canada. Canada has become one of the first Countries to legalize recreational marijuana use. So there is no blue print or formula for Canada to follow. So there will sure be road blocks and obstacles along the way. Other Countries will soon be able to look at Canada polices and Data and make better decisions, about there own polices and procedures.
Mass production of cannabis is scheduled to start in 2019. Officials are projects there might be more than 1.5 million kilograms of oversupply. That would need to be shipped to other courtiers, with medical marijuana programs. There is also a concern about the supply and demand side. If to much weed is in the market this will drive prices down. City officials and law makers have to find a balance with sustainability. It will be interested to see the blue print that Canada leaves for the rest of the world.
Source: Fool.com
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