The seed bank operation in Canada is confronted with different facts and myths. These are good to know information that will help you out with your decisions in buying, growing, and utilizing cannabis products. Canada is one of the flourishing countries that have a good standing cannabis industry. In this article, we will learn the different myths and facts about Marijuana seed banks Canada operations.
Facts about the Cannabis Industry in Canada
- The industry will split
- The cannabis industry has two streams: adult-use and medical use. In the next 15 years, it is seen that these two will become two different industries. The adult-use can be comparable to the tobacco and liquor industry while the medical uses can be associated with the pharmaceutical industry.
- There have been bills passed regarding the removal of cannabis taxes
- The Union of British Columbia Municipalities passed a resolution to diminish cannabis taxes because they argue that some cities can’t afford to pay taxes especially in places where cannabis tourism can’t sustain the cannabis store’s needs.
- There is public education about cannabis for all ages
- The government of Canada has committed up to $46 million allotments for public education and awareness activities about the possession and use of cannabis. Canadians, especially the youth are encouraged to join to better educate themselves about the benefits of cannabis specifically in the health sector.
- They believe that the use of cannabis should not be a criminal offense
There is a poll conducted way back in 1997 about the Canadians who are into the organization of cannabis. Last 2016, the poll was given again and it was found out that 7 in 10 Canadians is in favor of the usage of cannabis in their state.
Myths about the Cannabis Industry in Canada
- It is unbanked
It is a myth that the cannabis industry in Canada is unbanked. In fact, there are chartered banks in Canada that offers depository services for the cannabis dispensaries. Most of the cannabis dispensaries in Canada that have large amounts of cash transactions gets the depository services.
- Cannabis is a commodity
Cannabis is a consumer good and it caters to a broad scope recreationally and medicinally. It is not a commodity because if a consumer needs medical assistance he/she will not think of how to save money on the first thought while on the recreational or adult use, cannabis is still superior to the use of alcohol.
- Cannabis product will fall
There is a theory of supply and demand. As the supply increases, there is a momentary decrease in its monetary value but it doesn’t necessarily mean that there is a permanent decrease in prices.
- Cannabis legalization will lead to an increased use
This is a myth because the use of cannabis is still controlled, it means that not all are eligible to use it and the government of Canada ensures to promote responsible usage of cannabis. There are studies conducted that there is no direct correlation between the legalization of cannabis and the increase of its consumers.
Things to Consider About The Cannabis Industry in Canada
- Regulations – The government of Canada decided to approve the legality of cannabis in Canada because they want to demolish the rapid growth of the black market, and they want to protect the youth who are already exposed to marijuana. Upon venturing into their cannabis industry, make sure that you are fully knowledgeable about their policies to avoid inconveniences.
- Growing Environment- Because of Canada’s geographical properties and rich land, it is one of the most countries that has the best cultivation grounds that can produce quality cannabis products. The agriculture sector is also one of the most growing industries in Canada and it is where cannabis is into.
- Utilization – Whether you would use cannabis for recreational or medicinal consumption, as long as you would follow Canada’s rules and regulations you won’t be in trouble getting hold of it. As a cannabis user, you should also be responsible enough.
- Benefits – When you buy cannabis from them, you do not only satisfy yourself but you are able to help their community through economic growth.
- Accessibility – As long as you are in the right age, you are able to have access to both recreational or medicinal cannabis that can be acquired from an online cannabis store or from a physical cannabis store.
Knowing some facts about buying weed in Canada will guide you to have a good buying experience. These facts are helpful and the good-to-know information will help you access if you can be a responsible cannabis consumer. As the cannabis industry has been legalized, there are also misconceptions circulating about the cannabis industry in Canada. It is important to differentiate the facts from the myths so it won’t affect your buying experience.