The Hot New Crop: Marijuana
Thursday, December 5, 2013
Health Canada has launched a new initiative that will see the nation's supply of medical marijuana coming from large, carefully monitored indoor farms rather than the small homegrown operations it had previously relied on. In fact, The Canadian Press reports, private-dwelling production will soon be banned altogether.
Profits are expected to be, err, high: $1.3 billion by 2024 according to federal projections. As of press time, 156 firms had already applied for official producer status and two companies had received licenses – Saskatoon's Prairie Plant Systems and its subsidiary CanniMed Ltd. One of the would-be growers is Ontario-based Tweed Inc., which plans to grow weed in an abandoned chocolate factory in Smiths Falls.
Growers will be able to set their own prices, leading some to worry that prices will rise and drive low-income users who previously grew their own toward the black market. Critics also foresee difficulties obtaining prescriptions, which CBC News reports will be required as of April 1, 2014. There is a dearth of clinical trials on marijuana, and Canadian Medical Association president Dr. Louis Francescutti predicts most doctors will not prescribe something so untested.
Nevertheless, Health Canada and would-be growers are seeing green. The number of people who use medicinal marijuana is expected to reach up to 450,000 by 2024 from 34,500 now. Licensed growers will also be in a good position should the drug ever be legalized. Sophie Galarneau, media relations director at Health Canada, told Canadian Press "we're fairly confident that we'll have a healthy commercial industry in time." BF