The Government Of Canada Has Already Predicted That We'll Run Out Of Legal Marijuana Supply By Next Year
The demand is higher than anyone thought.
The time is almost here. Marijuana will be legal in Canada on October 17, and most of us are pretty excited about the new perks that'll come along with it.
TL;DR Canadian economists have predicted that the demand for cannabis on the legal market will be much higher than what suppliers are actually prepared to accomodate. It's predicted that by next year the price of legal cannabis will massively increase, or else shelves will become empty.
Although not every province will have actual stores supplying cannabis right away, there will still be ways online to place a legal order.
Canada's overall plan seems to be well thought out... or so we thought.
Although licensed producers may be stocked up on marijuana ready to hit stores in 13 days, economists have already predicted that the legal supply won't meet the demand during the first year of legalization.
Apparently there aren't enough producers ahead of legalization to be able to sufficiently deliver to the cannabis market.
Licensed producers are required to provide Health Canada with inventory numbers and, along with the estimated demand after October 17 by Statistics Canada, economists confirm we'll be seeing either a massive price increase on marijuana still available, or an actual shortage of supply.
So, you're probably wondering how much cannabis we would actually need to meet Canada-wide demands.
Well, Health Canada's predicts that annual demand will be 926,000 kilograms.
In terms of current supply, the industy's most recent inventory report shows that 66,404 kilograms designated for medicinal use was on hand at the time.
Needless to say, we might be running into a few problems within the next year.
Stay tuned for more information after cannabis legalization on October 17.