Canadian marijuana entrepreneurs shift focus to ‘micro’ licenses
The industry is already swimming in overproduction of low-quality cannabis that generally comes from “standard” production sites
MJBizDaily (US)
Monday, July 17, 2023
Monday, July 17, 2023
Cannabis entrepreneurs in Canada are increasingly turning to smaller micro-cultivation facilities to manage costs and produce higher-quality marijuana at a time when the industry is facing a glut of “standard” product and falling prices. That shift ultimately could help shrink some of the Canadian cannabis industry’s current supply glut, given that micro-class licensees operate smaller cultivation facilities. At the end of 2022, Canada’s total indoor growing area was 28% lower than the all-time high reached in 2020. Consumers appear to be weighing price sensitivity with a desire for the highest-quality products they can afford at a particular price point.
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