Authorization Of Cannabis
The medical marijuana regime in Canada is changing as of March 31, 2014 to encourage more private-sector growers. Throughout the country, there are more than 37,000 medical marijuana users, approved by Health Canada. There are also 25,600 patients who have personal licenses to be able to grow marijuana for themselves.
The licenses for individuals to grow their own marijuana will end in March 2014 when the regime changes. There are other licenses issued that allow people to produce marijuana for no more than two patients each and these will be expiring in March as well.
Right now, there are 156 applications pending to be able to grow medical marijuana under the new rules in the larger facilities. Health Canada has set the price for the medical marijuana at $5 a gram, though this will increase when it goes into the private sector, up to $7.60. The projection for the market over the next few years is anticipated to be $8.80 per gram. Black market marijuana is calculated at between $10 and $15 a gram.
Health Canada is projected to approve approximately 58,000 more patients for the use of medical marijuana in 2014 – and almost half a million more in the next decade.
While many are upset that Health Canada has commercialized medicinal marijuana, sales projections for the new industry are likely to be $1.3 billion a year by 2024. This may be able to produce more jobs as the private sector will need individuals to work in the operations as well as in the marketing aspect.