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I could destroy a fatty about now myself.
Canada destroyed 3.7 million pounds of unsold, unpackaged cannabis since 2018
Matt Lamers, International Editor
January 8, 2024
Canadian operators destroyed millions of packages of unsold cannabis products and a record amount of unpackaged dried flower in 2022 and the first half of 2023, largely because of years of imbalance in supply and demand, MJBizDaily has learned.
According to data shared by Health Canada, the federal cannabis regulator, 611.7 million grams (1.3 million pounds) of unpackaged cannabis was destroyed by licensed producers in 2022, an increase of nearly 44% over the 425.3 million grams destroyed the previous year.
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The data suggests that Canada’s regulated cannabis industry continued to seek supply-demand equilibrium after licensed operators produced substantially more marijuana than what consumers were willing to purchase.
In 2022, the amount of cannabis destroyed was equal to about 16% of total production, which was approximately 3.8 billion grams.
Only partial data was available for 2023.
In the first six months of 2023, another 265 million grams of marijuana were destroyed by license holders, according to the Health Canada data.
No data is available for the second half of 2023.
But if a similar amount was destroyed between July and December 2023, it could signal that the industry already has reached its peak supply-demand imbalance and started inching closer to equilibrium.
Canadian companies have destroyed a staggering amount of cannabis since 2018.
More than 1.7 billion grams (3.7 million pounds) of unsold, unpackaged dried flower have been destroyed since Canada became the first large country to legalize recreational cannabis sales.
That’s equivalent to the weight of approximately 1,252 Honda Civics.
In addition to unpackaged flower, approximately 24 million packages of cannabis were destroyed since 2018.
Health Canada discloses only the weight of destroyed unpackaged cannabis, meaning the overall amount of destroyed cannabis in Canada - including product already packaged - is likely more than 2 billion grams.
Farrell Miller, a cannabis industry veteran and consultant, said most of the destroyed product is old and low in THC content.
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“There is no demand for old and low-THC products, so manufacturers of finished products are not buying this biomass as inputs,” she said.
“It’s likely low-quality material with no value,” Miller said of the destroyed cannabis.
“As consumers become more savvy with packaging dates on dried cannabis products, this trend will only continue.”
What happened
Too many licensed cultivators were mass-producing cannabis after Canada legalized adult-use cannabis sales, industry sources said.
In the heyday of cannabis stocks - from 2017 until around 2020 - analysts and investors largely valued marijuana producers based on how much product they said they would grow rather than how much they could sell.
That incentivized cannabis license holders to fund and build massive greenhouses that, for the most part, were not capable of producing the high-quality, high-potency marijuana that consumers wanted.
Marie Sweeney, cannabis team adviser for the Ontario-based Cannabis License Experts consultancy, also suggested that a wave of business closures contributes to marijuana destruction, since insolvent companies generally are required to destroy unsold product if it’s not liquidated before federal permits expire.
Since early 2022, at least 42 cannabis or cannabis-related companies have filed for Canada’s corporate insolvency law, the Companies’ Creditors Arrangement Act (CCAA).
Most of the cannabis in their warehouses ends up destroyed, but there are some exceptions.
Last year, the Canada Revenue Agency informed British Columbia-based Tantalus Labs that it would be visiting its facilities to destroy all of its cannabis inventory and stamps immediately after the company's excise license expired.
That meant Tantalus, which had filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act, couldn’t sell its inventory.
Tantalus challenged the decision and won, meaning it was able to sell the inventory instead of destroying it.
Other reasons Sweeney cited for destroyed Canadian cannabis included:
Companies not having a sales team or business plan as well as their failure to pivot in an evolving market.
Overproduction of bad or undesirable products.
Labeling requirements have driven consumers toward high-THC products, leaving a surplus of quality, lower THC cannabis without a pathway to a market.
Sweeney said the potency issue was further exacerbated by some provincial wholesalers that don't accept products below 20%-25% THC, depending on the product category.
Equilibrium approaching?
The closure of large greenhouses across Canada in recent years has reduced cannabis production capacity.
How close is the Canadian cannabis industry to reaching a supply-demand equilibrium?
The latest Health Canada data shows that, as of June 2023, unpackaged inventory for cannabis license holders, provincial wholesalers and retailers amounted to almost 1.2 billion grams.
The current state of oversupply could be considerably higher when data from September, October and November - the season colloquially known as Croptober - is published.
Canada tracks cannabis cultivation monthly, and those months typically account for the highest amount of cultivation.
Miller, the industry veteran, believes the federal government should look for ways to coordinate public policy and regulatory activities with provincial regulators and cannabis license holders.
"There haven't been any limits placed on issuing licenses, and that is contributing to the oversupply," she said.
"If there was more of a national coordination effort, that would give the federal government more insight into what is actually making it onto the shelves in stores.
"Only the federal government licenses production - and the provincial and territorial governments manage retail - so a more coordinated approach within the industry, among the provincial and federal governments, would help manage the oversupply of licensed products."
Miller said that federal cultivation license holders need to meet minimum THC requirements to attract the attention of finished product manufacturers and retailers.
"Retailers and wholesale suppliers across the country have adapted to consumer demands by purchasing primarily high-THC products," she said.
"Licensed growers and manufacturers have accumulated trim and biomass that cannot be sold or created into high-impact products, (meaning it) is often destroyed.
"Improved oversight, data sharing and communication between the federal government and retailers across the country would help control the production of excess cannabis by balancing production with consumer demand."
OTC: RONN, RSPI, RITE, VTXB, HGTXU
Small Caps: MOTS, SINT, OCEA, HOLO, LEXX
We got a live bunch in the jailhouse…. #1 on the BoB here we come. 🤡
JailHouse top percentage gain for the day contest starts Monday. Lmao. But seriously… OTC or Small Cap doesn’t matter. Might as well embrace our stay here in jail. Your participation would be appreciated. Thanks
I am on the jail board and I don't know why. Hope everyone is well. If an admin can help I would be most grateful. I just responded to an admin by way of private message.
This account is permanently suspended. You need to logout of it on your laptop and login to your original account, the same one you are using on your iPhone.
I don't think people understand how to chart over there..........
USELESS buncha turds.
Click on THIS
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173520241
NEXT DAY.......Whump !
MONDAY December 25th
This is what we had been monitoring
The 44,000 and 43,200 Levels (of April 2022)
They got blind-sided back then and they've gotten blind-sided AGAIN !
USELESS buncha turds.........HODLers !
Enter it BELOW the 42 and then.......Just HOPE TO HELL IT REBOUNDS !
.
A return to (at least) the 42,000 Level, appears to be iincreasingly likely.
Yesterdays' 3 month Dec. 27th
As we were saying earlier (on the 25th) ;
Such a down-move in BTC, would send the (my HIVE) miners down to its' / & thier respective levels ;
.
Are people startin' to factor in - ANOTHER SEC delay ?
.
It has been a pumpers' dream.......Startin' to see a lot more top-callers coming out now though
Where this one in particular has just stood out for me
https://dailyhodl.com/2023/12/24/arthur-hayes-says-tradfi-could-completely-destroy-bitcoin-with-spot-etf-heres-why/
https://dailyhodl.com/2023/12/21/take-a-cautious-approach-santiment-issues-warning-on-solana-near-protocol-and-one-bitcoin-ecosystem-altcoin/
.
Meanwhile, this is what's been on MY radar ;
THIS IS WHERE IT PREVIOUSLY FELL OFF A CLIFF (IN 2022)
And this is what that's doing now.......
THIS IS HOW LAST CHRISTMAS PLAYED OUT
JANUARY 4TH - AND FROM HERE IT JUST TOOK OFF !...........* USED MY 16,666
WILL FED MINUTES BE RELEASED again ON WEDNESDAY JAN. 3rd ?
Because.......It's beginning to look a lot like LAST YEAR.
EXCEPT, THIS SURE LOOKS A WHOLE LOT DIFFERENT ;
In fact, look at what it does in the first days of January almost every year !
Bitcoin LOVES December / Jans !
The SEC announces its' decision on Jan 10th......
IH ADMIN:
Please close tiger_trader account as I do not have access to that email anymore and have forgotten my password.
Thank you.
IH ADMIN:
Please close tiger_trader account as I do not have access to that email anymore and have forgotten my password.
Thank you.
Admin,in the spirit of Christmas I am asking for you to unshackle me..please free my posting restrictions..Merry Christmas to all admins.. thank you
Never mind I think its because I made two accounts to get around the post limit.
A damn warning would be the right way to do this but I better shut up now or be banned for life………………………………………………………………………………………………………………………………………………………………………………….
~Enjoy Happy Holiday Hours All~
Does any one know what the rules are? I tried being respectful - I stopped all my negative and ad hominem attacks but the moderators seem to selectively enforce the rules. So many others get away with nonsense and they are not limited in any way. Is it because they paid?
Never look at real bad charts https://schrts.co/jtxqMmrB
Try to use only just simply the best ;
44,000 43,200 Channel
Attention all persons seeking real lousy charts........
This is your best provider - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173475031
Meanstwhile, elsewhere .......(for The BEST charts IN THE WORLD) ;
Check out these ones HERE ;
43,200, etc.
Your charts are terrible! They don't even have the correct info!
No wonder you can't see that dunce cap you have shoved up your bitcornhole!
https://schrts.co/jtxqMmrB
This trash is going to zero!
Boy.....THIS is sure a nice chart eh ?
BITCOIN
I "extrapolated" this channel from a long time ago ; (that's why it's pointing to the left)
Like, can anyone remember when all of THIS happened ?
I've got a number of charts covering that time frame ;
Unfortunately, can't find the chart(s) I';m looking for but.......this channel existed way back there then too
Bottom-line = 43,200 is the level which now needs to hold
.
.
Hey inmates. Apparently I’m in jail because my hotel WiFi IP says I have 2 accounts. Meanwhile some foreign dude is bashing another person on the board I was on and he gets to stay. Thanks Shelly. I guess liberal oppressors exist even the UK or wherever this site is headquartered
LLLLLLLOOOOOOOOOSSSSSSEEEEEERRRRR VVVVVVVIIIIIIILLLLLEEEEE
It was DO OR DIE Time.....
Tuesday December 12th........*Today is the 18th
This was the / a reccomendation back then........ (6 days ago)
Updated EARLY Monday morning - PRIOR TO this Monday afternoons' up-swing :
.
Mentioned it quite a large number of times :
Why ?.........Why do I go mentioning things a large number of times ?.......
Well, PARTLY because I simply like de-bunking thier Bull 💩
But ALSO because I'm just looking to see whether anyone "concurs". ......*which nobody (except one or two) ever does
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173341945
I mean, why ANYONE would be SO "fixated" upon "discrediting" the "reasonable" observations of another observant is totally just "beyond me".....
And yet that is what many on the board "choose to do".....
They're like - Rude and Combative and Antagonistic......
And I'm just like "What the hey ?????/"
DO OR DIE
Sumpthin' along those lines anyway.
.Fittingly and / or accordingly (in accordance), one of the top ranking miners is HERE ;
KEY UPDATE
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=mara&x=48&y=25&time=100&startdate=7%2F4%2F2022&enddate=3%2F10%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
.
Hi
for some reason i can post on my iphone but not on my laptop
is there a way to fix this, thanks looks like jail was from many years ago
We gotta start eatin' bugs man.....Cut down on CO2 emissions.........Save The Planet.
That should our Number One goal.
Forget about all this Bitcoin stuff......IT ain't gonna help us at all.......depite it bein' FUN to watch.
The All-iMPORTANT 42 !
Crickets, grasshoppers and scorpions, etc.......ALL of of 'em are healthy to EAT.
.
THURSDAY - 15 day - 10:00 am......."Starting to Wedgify"
3 days later.....
Saturday - 9:00 am
Thursday - Me. I've got MY "wedges".....
Friday - You've got :yours'"
Only difference is - I SHOW MINE.......
Whilst THIS is what YOU......."show" ?????
Like, who the hell can figure out what THAT'S supposed to mean, ya' frickin' stupid (and RUDE) dummy.
I suggest you get some better tools so that you're able TO SHOW WHAT YOU'RE supposedly "SEEING".......
You non-crayon toting freaking hack........!
I'm MILES AHEAD of you !
.
You missed the whole friggin' point...
Judaism is a religion.
Zionist Jews are a political faction.
You can't conflate the two.
Doesn't matter, that would be protected speech! IsFake is donesky!
Of course you don't you crayon toting hack. The trend lines don't evaporate and are there for all eternity! I suggest you get a better chart with better tools and you'll be able to see it! Preferably one that lets you go back and zoom in to a past time frame. And it's Bonk, you Tuke wearin' Tard. Bonk.x? ;-0
I've no idear what you are talking about - Perhaps U are applying some kind of real sloppy wedge ?
https://schrts.co/KHKNPSUk
Anyways. whatever the case.........That's why, one shouldn't just be simply DESCRIBING their T.A.........
They should be freaking SHOWING it !.........LoL
it's just laziness & complacency I guess........(to not exhert the effort
This is what I'M watching / seeing ;
Canada (and Europe) have had Spot Crypto ETF's for YEARS
Bitcoin ......Compared to the ETF above
Who's NEEDED an RSI ?
https://schrts.co/KHKNPSUk
.Board is awfully quiet there.....
It's been in that rising wedge for a while! Dead mole at the top of de wedge! Follow the line back to 17'... Complacency!
https://schrts.co/KHKNPSUk
TOTAL Global economic Santa Claus Risk-ON............* Thanks to The 16,000 Level..........
AND (of course) thanks to the SECs' looming Spot Crypto ETF approval(s)
16,000 - 18,000 :
16,000 - 18,000 :
Crypto Spot Coin ETF........Jungle of all kinds of Extra Big dollars !
TOTAL Global economic Santa-Claus Risk-ON
.
We HAVE been right before y'know......(like probably about a hundred times)
For example on
April 11 2022
12 HOURS BEFORE THAT............. and The 42,000 Level ;
20 months later.....(nailed that whole collapse - FROM The 42,000 Level !)
And NOW where is she ?........hmmmmm, that's wierd.
Just sayin'.......That the thing may be starting to "Wedgify" AT the 42
AT The All-Important 42 ;
42,000
Not a soul on that board there has ever even MENTIONED these levels........
Whereas, me I've discussed them a thousand times
https://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardid=26047&searchstr=26526&srchyr=2023
Unfortunately tho most all of 'em just don't have access to reviewing them all because they are NOT paying members.......
Bottom-line being ; = that I have been "nailing" virtually every INCH of this zany Bitcoin "craze" now for years....
In stark contrast to the boatload of false narratives which they continuously LOVE to spout !......
* Which, I don't know WHY anyone (decent) would do !
They're just all nasty, rude and combative people !......
It's like, man !......How do you guys all LIVE down there ?
No WONDER the world hates americans so much......
They're just a boatload of freaking deplorables.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173341945
Whilst ME I'm just here to consider THE FACTS - WITHOUT getting slandered and ridiculed and stabbed.....
Un-frickin'- believable !........Go U.S.A. Go !........Oh what a delightful nation !
Way to go IHub Admin.....Please, in the future ;
If / when it's unclear what's been manifesting on a board, there should not occur an * indisriminate sentencng of its' members......
A deficiency of insight propagates injustice.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173421508
re ;
Fed Rate Announcements.....
Coinbase loses access to western capital markets!
https://cointelegraph.com/news/coinbase-spot-crypto-trading-international
You can if you have the top line of the rising wedge on your chart! When you see the mole hit it with your purse Alice!
First and foremost - watch this:
https://www.youtube.com/watch?v=4j_cFgbcssc
Then go here to see if this helps you undersand why you're here:
http://investorshub.advfn.com/boards/myremovedposts.aspx
Then read this if you're still confused:
http://ihwiki.advfn.com/index.php?title=Example_of_Making_Posts_Personal
Then read the stickies at the top of this board.
This thread is designed to allow those members who get suspended a place to cool off, figure out what they did wrong, and eventually, possibly, get out.
Instructions for those new to the Jail:
1) If you have gone to post and see the red alert saying "Your account has been suspended. You can only post to the Jail," then you are in the right place.
2) Figure out what you did wrong (often, you already know).
You can be here in two different scenarios:
1) We could be using the Jail as a temporary holding tank while you cool off and we get a few things straight (this is often the case)
2) We've thrown you in here because you are spamming, being a dolt, using multiple aliases, etc. and need to serve your time
Whatever you do, do NOT sign up for another account to circumvent your suspension.
FAQ:
Q: Should I send you a private msg to discuss this? Why are you ignoring me?
A: You can send a PM to IH Admin or you can post here. Be advised to leave out any vulgarity or reference to nazis and the like. We're not interested in either.
Q: Do you warn before you suspend people?
A: Generally, you've been warned. But, if egregious actions, then, no, no warning. You're likely absolutely aware of what you did to get suspended so please don't waste any of our time pleading ingorance or innoncence of what you've done to violate the rules. Just do your time.
Q: What if I think you are wrong about suspending me?
A: We are rarely wrong, but you are welcome to ask.
Current List of Invited Guests:
http://investorshub.advfn.com/boards/TheBigHouse.aspx
This board is read-only, except to Invited Guests and Admins.
You are at a fork in the road:
The Long Road Home:
"I didn't do it." "The other guy made me do it." "You busted the wrong guy," "You just want to harass me." "I'm going to sue." "I'm reporting you to [insert favorite acronyms here]" "I don't need this site." "You all suck." "I'll just (try to) post from a new account." "You are violating my constitutional rights (and I failed high school civics)."
The Path of Least Resistance:
"Yep, guilty as charged. I acknowledge and regret my actions and I am prepared to accept the consequences. I commit to modify my bad behavior in the future."
Finally, do you resemble the following? If so, you should seriously rethink your approach or you will be spending much time here.
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