FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Pasha Brands: Canada’s First Micro-Cultivator Crops Expected Next Month.”
Pasha Brands Ltd. (CSE: CRFT) (OTC: CRFTF) (FSE: ZZD), Canada’s largest craft cannabis brands organization, expects nation’s first micro-cultivator harvest next month.
Based in Vancouver, British Columbia, Pasha Brands is a vertically integrated organization that is firmly rooted in BC’s craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product, processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha’s subsidiary, BC Craft Supply Co. Ltd., is developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft Supply Co. Ltd. is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Canada became just the second nation ever to legalize cannabis in 2018. However, despite legalization, the industry continues to face multiple legal barriers within its borders. But, despite hindrances, the Canadian market is projected to experience one of the fastest growth rates among global markets. Additionally, Canada’s legal spending on the plant is also expected to grow at a much more rapid rate compared to other regions, primarily because of its large addressable market. In comparison, Uruguay’s cannabis market is still relatively small, despite having legalized cannabis entirely nearly 6 years ago. In 2018, it was estimated that 147,000 Uruguayans between the ages of 18 and 65 consumed cannabis, according to CBS. On the other hand, Statistics Canada estimated that approximately 5.3 million or 18% of Canadians aged 15 years and older reported using cannabis during the first quarter of legalization. Nonetheless, a major drawback to a large consumer base is that it makes it challenging for cultivators and vendors to meet the demand, especially when the industry is relatively new. Consequently, Canadian retailers experienced nationwide shortages due to limited licensing approvals. And, as such, many Canadian provinces decided to provide additional licenses to operators in order to close the growing gap between the supply and demand. And while Canada has officially marked its first year of legal cannabis sales just last month, the marketplace is still in its infancy stage. Now, as regulations begin to loosen, the Canadian legal industry is positioned for exponential growth. And according to data compiled by ArcView Market Research and BDS Analytics, the worldwide consumer spending on legal cannabis reached an estimated USD 12.2 Billion in 2018. By 2022, it is expected for consumer spending to reach USD 31.3 Billion while registering a CAGR of 26.7% from 2017 to 2022.
Generally, in the Canadian marketplace, large-scale corporations stand out among the competition and thrive because of their efficiency. Specifically, large licensed producers are able to produce tons and tons of cannabis each harvest because of their efficient and optimal grow houses. As a result, large producers are then able to sell their harvests at a wholesale rate. Typically, these large producers are focused on growing quantity, which can completely diminish the quality of a strain. On the other hand, smaller businesses have decided to focus more on quality to compete with the industry’s behemoths. Notably, small businesses have engaged in the artisanal profession of “craft cannabis.” Craft cannabis is known to come from an attentive procedure of tending to each individual plant to ensure premium and high-quality buds. The tedious process requires growers to constantly examine each plant to avoid molding or infestations and while the process may be laborious and tiresome, craft cultivators are able to achieve a premium end product that large-scale companies are simply unable to grow. “Legalization always creates consumers who are new to cannabis, and their profiles and habits stand apart,” cannabis research firm BDS Analytics said. “Brands must remain highly attuned to their customers and offer a wide range of products to achieve and maintain marketplace triumph. Depending on one winning product is not enough to carry a brand.”
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