Obviously many people are expecting the Canadian cannabis industry to take off rapidly once sales finally become legal later this year. But the latest projections for just how much marijuana the country will produce are pretty astounding.
Experts are now predicting that Canada will produce as much as 3 million kilograms of cannabis per year by the end of 2020. For Americans, that's the equivalent of about 6.6 million pounds. These numbers were reached based on what various cannabis companies in Canada say their production capacities will be in the coming years. In fact, some say there could be even more than 3 million kilograms if certain growers are underestimating their growing capacities.
Of course, that doesn't mean Canada will be pumping out millions of kilograms as soon as sales start in a few months. In fact, there's likely going to be a shortage of marijuana when sales begin this October. That's because many growers waited until there was an official start date for legal sales to begin before investing and committing to producing enough cannabis for recreational sales. So there likely won't be as much cannabis as you'd like when legal sales begin, but that should rectify itself after only a few months.
(h/t Motley Fool)