The federal government has only collected half the excise taxes it expected following legalization. The government projected $35M for 2018-2019, but brought in only $18M.
- Ottawa has adjusted its excise-tax revenue expectations for this year from $100M down to $66M.
- Nonetheless, it projects $135M in excise tax revenues next year, reaching $220M in 2023.
For the first time, licensed cultivation space is now predominantly outdoors rather than indoors. Health Canada has licensed 19M square feet of outdoor grow space, compared with 13M square feet indoors (including greenhouses).
MJ Biz Daily
- Growing outdoors is obviously cheaper, but also traditionally thought of as poorer quality. Some outdoor growers argue that’s changing.
Inside the Jar
In recent market data reporting, Health Canada has ceased to specify units of measure for cannabis sold, and has begun to use the unspecified “units” and “packaged units.”
- BNN Bloomberg‘s David George-Cosh reported Health Canada told him the change “aligns with how many regulated parties track their product internally.”
- Cannalyst Craig “GoBlueCDN” Wiggins said, “Anyone underperforming against metrics and targets – like LPs, public retailers, and governments – will applaud and support Health Canada moving from widely understood measures such as KGs and litres to the amorphous ‘Units.'” Twitter—GoBlueCDN
Edmonton police reported there has been a slight rise in drug-impaired driving arrests, but admitted the impact of legalization on drug-impaired driving was lower than it expected.
Massachusetts sold $677M worth of legal cannabis in its first legal year—more than half of the $1B sold in Canada’s first legal year, but in a state with a 6.9M population. Illinois (population 12.7M), meanwhile, sold $40M worth of legal REC in its first month.
420 Intel, Nasdaq