According to officials in Canada, a sharp increase in the cultivation of medical cannabis is needed, in order to keep up with growing demand there
Cam Battley, executive vice-president of Aurora Cannabis Inc., said on Monday, “Right now, the existing capacity and what is already envisioned will not be sufficient to meet the needs of the adult consumer market.”
There is an added urgency also, due to the fact that recreational cannabis use is set to become legal as of July 1st, 2018.
According to Battley, “We need to expand our capacity right away simply to meet the demands of the rapidly growing medical cannabis system. When the demand of the adult consumer system is layered on top of that, it’s a rush to build as much capacity as possible.”
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Despite the worries and in some cases minor panic, Battley also came with some good news, telling reporters, according to The Canadian Press, that
Battley made the comments on the same day that Aurora (TSX:ACB) began trading common shares on the Toronto Stock Exchange Canada has a well-developed medical cannabis system, “This is a coming of age, not just for Aurora, but for the cannabis sector and what we’re seeing now is that Canada has established itself as the world leader in a brand new emerging industry that we are literally inventing in real time,” he said.
According to Battley, Canada is leading the global movement in the field of medical cannabis, and Jordan Sinclair, director of communications for Canopy Growth Corp. (TSX:WEED), another major medical cannabis producer, agrees, “There’s no doubt that we already are …that Canada is the global leader in cannabis on the medical side certainly.”
According to the Health Canada website there are 52 authorized an licensed producers of cannabis for medical purposes in the country. That number is set to grow as medical cannabis steadily becomes more easily accessible for patients in Canada.
[Featured image credit- Pixabay]