On the fourth anniversary of legalization, “This is an industry that cannot pay its own bills and cannot make ends meet.”
Source: Canada’s cannabis producers say they’re in crisis. Here’s what they’re asking the government to do
From the article:
“And, as part of that review, he wants Ottawa to look at updating the excise tax — the tax placed on cannabis at the point of manufacture.
Currently that tax stands at $1 per gram or 10 per cent of the sale price on dried cannabis, whichever is higher. That was premised, said Smitherman, on the idea that weed would sell for about $10 per gram.
In fact, according to the Canada Cannabis Spot index, the average selling price is now hovering around $4, meaning producers pay about 25 per cent of their revenue in excise tax, as opposed to 10 per cent.”
Also, I wonder if the huge oversupply of ~nov 2021? per statscan.
