The Cannabis industry is flourishing in Canada as a whopping $8.26B has been added to Canada’s GDP

The Cannabis industry is flourishing in Canada as a whopping $8.26B has been added to Canada’s GDP

The cannabis industry in Canada provided a gross domestic product of $8.26 billion in July, a constant upward trend over the $7.02 billion legalized cannabis leisure industry last October, according to fresh information released by Statistics Canada on Tuesday. Statistical data indicate that in the first 10 months of legalized marijuana, the legal cannabis sector in Canada has grown by a whopping 185%. According to StatsCan estimates, the black market production for marijuana decreased by 21% simultaneously.

With US authorities working on how to address the present vapor-related health crisis, the US Food and Drug Administration advised about such an outcome, according to the Los Angeles Times, as they banned flavored liquids. However, senior officers of Obama’s administration nixed the ban and much proof supporting it. The newspaper noted that quoting a cost-benefit analysis which indicated that the financial burden on vapor stores outweigh its potential health advantages.

A sharp increase of youth vapors, when about 4.9 million high school and middle school learners had tobacco products in 2018, was ascribed to an absence of flavor ban compared with 3.6 million the past year.

According to Cannabis Wire, Colombian politics are pursuing a bill to legalize recreational cannabis in the nation with the expectation that it could assist to replace cocoa manufacturing and increase revenue in rural areas of the nation. The Colombian Senate will shortly be heard of a draft version of the bill which seeks to formalize a framework of taxes and regulations to allow cannabis sales across the nation. It might also open the way for exports of cannabis. The only way to get cannabis legally is by growing crops home, reports Cannabis Wire.

A judge in the ON Court of Appeal heard all parties argue that disqualified cannabis shop candidates were seeking an appeal. BNN Bloomberg has learned from Justice Ian V.B. Nordheimer that a formally determined decision will be taken tomorrow on whether to grant a stay in the licensing system. On Friday, a panel of magistrates rejected a judicial review which would allow the reinstatement of a group of 11 disqualified cannabis stores. A total of 42 marijuana stores had already been opened in Ontario, but many court judgments have postponed the deployment of the pot stores.