The Canadian Cannabis Industry Could See $4.9 Billion To $8.7 Billion In Annual Sales After Recreational Legalization In Enacted, According To Deloitte, With Ancillary Goods And Services Pushing That Figure To Between $12.7 Billion And $22.6 Billion.

The Canadian cannabis industry could see $4.9 billion to $8.7 billion in annual sales after recreational legalization in enacted, according to Deloitte, with ancillary goods and services pushing that figure to between $12.7 billion and $22.6 billion. These figures have attracted a growing number of companies and investors to the lucrative market. But, the industry’s rapid growth hasn’t come without growing pains. Two licensed producers (LP’s) voluntarily recalled hundreds of grams of dried marijuana in recent weeks after traces of controversial, banned pesticides were detected in their supplies. On Feb 7th, 2017, yet another Globe and Mail article highlighted the immediate need for testing and Health Canada is now preparing to introduce random testing on the licensed producers in an effort to clamp down on the problem. When asked why mandatory testing was not yet implemented for all LP’s, marijuana a Health Canada senior official stated he believed “there are only about three labs in Canada that could perform such testing, and there would be a backlog.” Licensed producers looking to avoid issues with pesticides must seek out high-quality laboratories that run comprehensive testing on approved and banned pesticides. These labs should also be capable of running required tests on cannabis edibles and extracts designed to assess cannabinoid concentrations, bioavailability of capsules, and other aspects of the drugs. And of course, third party testing provides a greater level of transparency than in-house options. Abattis Bioceuticals Inc.’s Northern Vine Labs subsidiary focuses on providing high-quality, independent testing for licensed producers, consumers, and others within Canada’s cannabis industry. With a Controlled Substance License (“CSL”), the company is one of just 18 approved laboratories in the country that offers product certification and quality assurance programs that incorporate best practices and procedures.

To read more visit http://finance.yahoo.com/news/abattis-addresses-key-shortcomings-canadas-140000238.html

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