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“We’re 20 years plus, here in Canada with hemp, but it almost seems like we’re brand new again.” – Jeff Kostiuk, Hemp International.
Crops, News

Hemp development hits stride as new markets open up

New uses mean a new spectrum of genetic traits for hemp breeders to tailor for. What does that mean in an industry where variety development has been grain focused?

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Canada has taken on a leading role in industrial hemp production since the crop was legalized in 1998. Initially it was grain production that took off, with food products like hemp hearts. Other possible uses include fibre production — particularly for novel products that don’t require highly refined fibres — and nutraceuticals like cannabidiol, which
Three years ago hemp was said to be taking off, but then acres started falling.
Crops, Farmit Manitoba

Hemp acres in recovery

Between market volatility and the fate of new, emerging markets, Canada’s hemp industry has been in a state of flux in recent years

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Three years ago, hemp looked like it was getting set for a rocket ride. Riding a contact high from the frenzy of attention around cannabis legalization, it looked like new markets ranging from health and wellness nutraceuticals to sustainable building materials were about to take off. That was good news for a crop that, at
Aurora Cannabis in November 2019 opened a flagship retail store at the West Edmonton Mall, describing the 11,000-square foot shop as “both a retail cannabis store and an immersive experiential space.” (CNW Group/Aurora Cannabis Inc.)
Crops, Other

Aurora Cannabis revenue short of expectations on lower pot demand

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Reuters — Aurora Cannabis on Monday missed Wall Street expectations for fourth-quarter revenue as pandemic-related restrictions weighed down consumer demand, leading Canadian provinces to cut orders. U.S.-listed shares of the company, which also posted a bigger-than-expected quarterly loss, were down two per cent in extended trading. After more than three years into Canada’s legalization of
Aurora Cannabis in November 2019 opened a flagship retail store at the West Edmonton Mall, describing the 11,000-square foot shop as “both a retail cannabis store and an immersive experiential space.” (CNW Group/Aurora Cannabis Inc.)
Crops, Other

Aurora Cannabis to shut one Edmonton plant

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Reuters — Aurora Cannabis said Tuesday it will shut down a facility at Edmonton, adding to the woes of the cash-strapped Canadian pot producer which has been reeling under the impact of the pandemic since last year. The company said medical distribution from the Aurora Polaris facility that is being shut down will move to
(Jushico.com)
Crops, Markets, Other

Pot producer Jushi acquires U.S. retailer in cheaper deal

Lack of movement on legalization drops valuations

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Reuters — Cannabis producer Jushi Holdings acquired Massachusetts-based retailer Nature’s Remedy at a cheaper price than initially offered, as valuation of weed companies across North America has dramatically dropped lately. The decline in valuations over the last few months has been largely due to a lack of progress on anticipated federal marijuana reforms in the
(Juanmonino/iStock/Getty Images)
Crops

Pot producer TerrAscend to buy U.S. rival Gage Growth

Company to pay US$545 million

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Reuters — Cannabis producer and processor TerrAscend will buy Michigan-based rival Gage Growth Corp., backed by prominent cannabis investor Jason Wild, for around US$545 million, the pot producer said on Wednesday. Dealmaking in the U.S. cannabis industry has heated up this year as companies bank on Democrats’ promises to reform marijuana laws and potentially legalize
Sergio Rocha, executive director of a cannabis cultivation research project, works in a greenhouse at Brazil’s Federal University of Vicosa on Aug. 18, 2021. (Photo: Reuters/Washington Alves)
Crops

Cannabis firms catch whiff of opportunity in Brazil

Canadian producers among those now supplying Brazilian market

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Sao Paulo | Reuters — International cannabis companies are showing interest in Brazil, both its large consumer market for medicinal products and a proposal that could legalize planting of the crop. Major producers such as Colombia’s Clever Leaves and Canada’s Canopy Growth are developing and selling medicinal cannabis products to a Brazilian consumer segment estimated
(Hexo Corp video screengrab via YouTube)
Crops, Other

Hexo steps up cannabis M+A spree with Redecan deal

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Reuters — Hexo Corp said on Friday it would buy Redecan, a privately-owned Niagara-region cannabis producer, for $925 million in cash and stock, as the pot producer bolsters its portfolio to tap surging demand and position itself as a top recreational weed supplier. Cannabis demand surged last year as many people turned to pot during
Flush farmers have a reputation for reinvesting in their operations, which has a positive impact on the economy. (Luca Piccini Basile/iStock/Getty Images)
Markets

StatsCan shows 2020 farm income up significantly

Farm cash receipts were up more than expenses

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Canadian farm income, no matter how it’s measured, was up a lot in 2020, data released Wednesday by Statistics Canada show. Canadian net farm income of $18.1 billion is up $4.8 billion from 2019 — a 36.5 per cent increase. Another measure — realized net farm income (RNFI) — saw farmers take in $9.9 billion,

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