🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Canadian regulator pushes for more competitive cannabis industry

Published 05/26/2023, 11:04 AM
Updated 05/26/2023, 11:05 AM
© Reuters. FILE PHOTO: Chemdawg marijuana plants grow at a facility in Smiths Falls, Ontario, Canada October 29, 2019.  REUTERS/Blair Gable

(Reuters) - Canada's Competition Bureau on Friday made several recommendations for a more competitive legal cannabis industry in the country and to safeguard it from illicit market activity.

The recommendations include review of the cannabis licensing process and related costs, adjustments in THC limits for edible cannabis products, and easing of restrictions on cannabis promotion, packaging and labelling.

Cannabis has more than 60 constituents called cannabinoids. THC is perhaps the best known of those, less so for its medical benefits and more for its psychoactive properties that give people a "high" feeling.

The recommendations were submitted to Health Canada and an expert panel in response to the ongoing legislative review of the federal Cannabis Act.

© Reuters. FILE PHOTO: Chemdawg marijuana plants grow at a facility in Smiths Falls, Ontario, Canada October 29, 2019.  REUTERS/Blair Gable

Canada's cannabis consumers spent C$4.52 billion ($3.38 billion) on regulated adult-use products in 2022, according to Statistics Canada.

($1 = 1.3372 Canadian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.