Matt Maurer, vice-chair of our Cannabis Law Group, spoke to Marijuana Business Daily on the shortage of CBD products for the nonmedical and medical markets that are being reported by provincial wholesalers. New data released to Marijuana Business Daily suggests imports aren’t enough to fill the gap.
Market watchers say regulated cannabis companies aren’t making enough CBD products, either because they misread market demand for the extract or because they’re choosing to grow and sell higher-margin marijuana with THC.
“Most people in the industry are aware of the popularity of CBD products,” said Matt Maurer of Toronto-based Torkin Manes cannabis law group, “but I suspect that most licensees misread the market and thought that the interest was primarily in CBD-rich edibles, topicals and concentrates, all of which are products which are not yet legal.”
Maurer said he does not believe it will take an extended period of time to correct the shortage.
“Companies aware of this demand ought to already be working toward fulfilling the demand. For cultivators, that could take a bit of time,” he said.
“However, for companies such as MediPharm Labs, producing CBD-rich products from existing stockpiles of dried flower is something that could be accomplished in short order if the demand for product is there.”
To read the complete article, please visit the Marijuana Business Daily website.