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Crops, Markets

Cash-strapped pot producers raise billions in market rally

Cannabis firms seen as down in the weeds until recent surge

By
Reuters — A political shift in the United States has unlocked an estimated US$1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November. Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian
Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops

Pot producer Canopy Growth sees profit in 2022

Costs cut, revenue increasing

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Reuters — Canopy Growth Corp., the world’s largest pot producer, said on Tuesday it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis products helped narrow third-quarter losses. Canadian pot producers have been under pressure from investors seeking returns as profits remain elusive due to
Partnership to expand use of western Canadian plant proteins
News

Partnership to expand use of western Canadian plant proteins

Consortium will develop new products for Canadian and Asian markets

By
A new partnership is aiming to develop new plant-based protein products and ingredients intended for markets in Western Canada and Asia. A recent media release from Protein Industries Canada, the federally funded ‘supercluster’ that’s tasked with growing this sector said Mera Food Group, Mera Developments and Benson Farms are going in together to use oats,
(Glacier FarmMedia Network photo)

Provinces’ feet held to fire on AgriStability

Ministers' meeting co-chairs push for progress to allow changes to be made retroactive for 2020

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The co-chairs of Canada’s agriculture ministers’ meeting are pushing to get proposed improvements to AgriStability in place sooner than later. Federal Agriculture Minister Marie-Claude Bibeau and her Ontario counterpart, Ernie Hardeman, “urge all provincial and territorial ministers to support the proposed changes to the AgriStability program,” they said in a joint statement Tuesday. At a
(Fudio/iStock/Getty Images)
Crops

People growing too much pot at home, Health Canada warns

Pressure on to prevent abuse of home-grow program

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Reuters — Health Canada on Thursday raised concerns about the large quantity of medical marijuana people were growing at home, after its data showed a significant jump in daily average production permitted by health care practitioners. While the practitioners can allow registered patients to grow a limited amount at home for personal use, the regulator’s
Manitoba Agriculture Minister Blaine Pedersen speaks at Ag Days in Brandon on Jan. 21, 2020. (Manitoba Co-operator file photo by Alexis Stockford)
Markets, Weather

AgriStability proposal could have hidden cost, Pedersen warns

Manitoba's ag minister warns Bibeau's plan may hurt crop insurance, AgriInvest funding

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Ottawa’s proposal for an improved AgriStability program could give farmers short-term gain for long-term pain, Manitoba’s agriculture minister Blaine Pedersen warns. At the online federal-provincial-territorial agriculture ministers’ meeting on Friday, federal Agriculture Minister Marie Claude Bibeau proposed dropping AgriStability’s maximum reference margin, and increasing the compensation rate from 70 to 80 per cent retroactively this
(Glacier FarmMedia Network photo)

No BRM breakthrough reached at ministers’ meeting

AgMins fail to find solution to business risk management program woes

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No consensus on changes to business risk managements (BRM) programming was reached during the latest round of federal-provincial-territorial agriculture ministers’ meetings. After the meetings ended Friday, federal Agriculture Minister Marie-Claude Bibeau explained Ottawa was willing to maintain the current cost sharing of the programs at a 60-40 split between her government and the provinces. Bibeau’s
(Philpell/iStock/Getty Images)
Markets

Britain, Canada agree on post-Brexit rollover trade deal

Tailor-made comprehensive pact expected to follow

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London/Toronto | Reuters — Britain and Canada struck a rollover trade deal on Saturday to protect the flow of almost $35 billion-worth of goods and services between them after Brexit, and vowed to start talks on a bespoke agreement next year. As Britain prepares to end its transition out of the European Union on Dec.
(Photo courtesy Canada Beef Inc.)

AgriStability in Bibeau’s sights as ministers’ meeting booked

Removing reference margin limit a palatable option

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Federal, provincial and territorial (FPT) ministers of agriculture are scheduled to meet Nov. 20 and 27 to discuss improving business risk management (BRM) programs. Federal Agriculture Minister Marie Claude Bibeau said she is confident counterparts from Quebec, Ontario and British Columbia will be willing to contribute their share to make significant improvements to AgriStability, the
U.S. rapper B-Real (Cypress Hill, Prophets of Rage) has collaborated with Atlanta-based SweetWater Brewing on a variety of its ‘420’ brand of cannabis-scented beer. (Video screengrab from Sweetwaterbrew.com via YouTube)
Crops

Canadian pot producer Aphria to buy U.S. craft brewer

SweetWater's '420' beer would come to Canada

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Reuters — Canadian cannabis company Aphria Inc. said on Wednesday it plans to buy craft brewer SweetWater Brewing for US$300 million as it looks to expand into the U.S. while becoming the first major pot producer to enter the alcoholic beverages market. The deal gives Leamington, Ont.-based Aphria a U.S. distribution point at a time

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