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Canadian Cannabis Oil Consumption Continues To Grow

April 25, 2017

 

This Monday, Health Canada released its latest ACMPR "market data" update covering the fourth quarter of 2016. Although this data is released with a large lag, it still provides valuable insights into the Canadian medical marijuana market. One of these insights is the continued growth in cannabis oil consumption. 

 

 

Since data regarding the sale of oils has been collected and released by Health Canada, kilograms of cannabis oils sold have been growing at a much faster pace compared to the growth in dried marijuana sold. Quarter-over-quarter growth in cannabis oil sales continued to outpace both the growth in dried marijuana and registered patients in the most recent quarter.  

 

Discover some of the publicly traded companies in the business of cannabis oils in our Seeking Alpha article here

 

Personal and Designated Production

 

Health Canada also started reporting this quarter the number of patients registered to grow their own marijuana, and the number of people registered to produce for another person. In the quarter ended December 31st, 2016, 1,899 patients were registered to produce their own cannabis while another 108 people have designated another person to produce for them. One of the most recently licensed LPs, Bonify, has a subsidiary that is dedicated to providing growing supplies and guidance to these patients. 

 

Additionally, all two thousand of these 'home growers' need to obtain their starting materials (seeds or plants) legally. They do so through one of the seven LP's that offer starting materials. A few of these LPs are subsidiaries of publicly traded companies, be sure to read more about them in our Seeking Alpha article here. Also note that Maricann Group (one of the newest LP's to trade publicly) is one of the Licensed Producers that provides starting materials. 

 

Conclusion

 

Keep up-to-date with news from Health Canada and the 43 Canadian Licensed Producers by following The Daily Marijuana Observer on social media and by subscribing to our Canadian L.P. Updates Newsletter using the form below. 

 

 D/M/O

 

Now Read: Investing in Marijuana Stocks Using a Roth IRA

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