It’s bittersweet in the marijuana news today as we look at the cannabidiol (CBD) market’s popularity in Canada leading to another shortage of cannabis products across the country.
The Canadian marijuana market has been fighting shortages ever since it opened over half-a-year ago. Usually, the reporting on those shortages has been limited to covering marijuana, but now we’re seeing CBD oil also fly off the shelves at accelerating rates. (Source: “Retailers struggle to keep popular cannabis extract CBD on shelves in Canada,” Global News, May 6, 2019.)
Spurred on by new and older consumers, CBD oil promises to treat a lot of ailments like insomnia and anxiety. The science has yet to be settled on just how effective a treatment CBD oil is, but there’s sufficient hype around the cannabis extract that consumers in both the U.S. and Canadian markets are flocking to stores to partake.
Both Canada and the U.S. have far laxer laws governing the cultivation of hemp than they do for marijuana. Hemp is a cannabis plant that is high in CBD but low in the high-inducing tetrahydrocannabinol (THC).
This makes CBD harvesting a far easier proposition compared to marijuana. Still, just because it’s easier doesn’t mean it is problem-free.
And with the rush of consumers hitting Canadian stores in droves, some stores simply aren’t able to keep up with demand.
This is, however, a good thing. Seeing huge consumer demand means that sales are likely to be strong for years to come. The CBD market especially could be extremely profitable, since it does not carry the same stigma as marijuana.
Pot companies should be grateful to see such an onrush of desire for their products. The next step, of course, is finding a way to better serve consumers by