August 17, 2017


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Cannabis a predicted cash cow

Hey there, time traveller!
This article was published 29/9/2013 (1417 days ago), so information in it may no longer be current.

OTTAWA -- Facts and figures on the medical marijuana regime in Canada, which is changing rules by March 31, 2014, to encourage large private-sector growers:

  • Current number of medical marijuana users approved by Health Canada: 37,359, up from 477 in 2002.
  • Number of patients with personal licences to grow marijuana for themselves: 25,600 (ends March 31, 2014).
  • Number of growers licensed to produce marijuana for a maximum of two patients each: 4,200 (ends March 31, 2014).
  • Current number of entrepreneur applications to grow medical marijuana under new rules allowing larger facilities: 156.
  • Health Canada's current price for medical marijuana produced under contract: $5 a gram (government sales end March 31, 2014).
  • Health Canada's projection of profitable private-sector price in 2014 after the new free-market kicks in: $7.60.
  • Projection of average price as market matures in several years: $8.80.
  • Advertised price of products of CannaMed, the first licensed distributor in the new system: $9 to $12 a gram.
  • Current estimated cost of black-market marijuana purchased on the street: $10 to $15 a gram.
  • Projected total additional cost to all approved patients as a result of the new system: $166 million a year for 10 years.
  • Health Canada projection of number of approved medical marijuana patients in 2014: up to 58,000.
  • Projection of number of patients by 2024: Up to 450,000.
  • Sales projections for the new industry by 2024: $1.3 billion a year.

--The Canadian Press


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