Pot sales lag in February as producers ramp up inventory
Canadian pot sales extend declines in February as producers hoard supply ahead of edibles launch
Canadians bought 6,671 kilograms of cannabis in February, down about nine per cent from the prior month, and the lowest level since legalization, according to figures released by Health Canada. The decline is largely attributed to fewer days in February, said Health Canada. The average daily sales of dried cannabis in February actually increased by one per cent compared to January - from 236 to 238 kilograms. However, the total amount of inventory of finished and unfinished dried cannabis held by cultivators, processors, distributors and retailers totaled 144,470 kilograms in February – approximately 21.7 times the amount of total sales in the month – as produces looked to stock up on marijuana ahead of the launch of edibles later this year.
Carl’s Jr. to launch cheeseburger with CBD sauce in time for 4/20
Just in time for 4/20, the unofficial stoner holiday, one burger chain found a way to get some cannabis into a cheeseburger. Bloomberg reports that on April 20th a single Carl’s Jr. location in Denver will be selling a “The Rocky Mountain High: CheeseBurger Delight” containing pickled jalapeños, pepper jack cheese and CBD-infused sauce. The burger will contain 5 milligrams of CBD, far short of the 500 milligrams some experts say is required to consumers to feel any effect. It will retail for US$4.20, naturally, and Carl’s Jr. said it has enough ingredients to sell at least 1,000 of the specialty burgers.
Germany formally awards domestic medical marijuana production contracts to Aurora, Aphria
Germany’s medical marijuana industry is off to a fresh start after the country’s drug regulator formally awarded contracts to supply domestically-grown cannabis to two Canadian companies. Reuters reports Germany will purchase 4,000 kilograms and 3,200, kilograms of cannabis over four years from the German subsidiaries of Aurora Cannabis and Aphria in a move the country hopes will develop its own medicinal marijuana industry and reduce reliance on imports. Another tender for a 3,200 kilogram harvest has been delayed due to an unidentified bidder challenging the bidding process procedure with the regulator.
Jamaica looks to establish business-friendly ties with cannabis industry despite U.S. worries
Jamaica is the Caribbean’s biggest supplier of illegal marijuana to the United States, but now the country is starting to think of cannabis as an opportunity. Ganja, as Jamaicans call it, is a “growth-oriented industry”, the country’s agriculture minister tells The Economist. Jamaica recently decriminalized the possession of small amounts of cannabis and allowed its cultivation for medical use. Sales of medical marijuana in the country could offset income from diminished sales of sugar, once its biggest cash crop. But despite its business-friendly move toward cannabis – evidenced by Aphria and Canopy Growth establishing footprints in the country – it also doesn’t want to provoke the U.S. if the country is found to be flouting the U.S.’s drug laws.
-- The total legal cannabis sales at dispensaries across Arizona, California, Colorado, Oregon, and Washington in February, a decrease of 2.6 per cent from January, and a 23.4 per cent increase from the prior February, according to BDS Analytics.
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