Canadian regulator pushes for more competitive cannabis industry
(Reuters) - Canada's Competition Bureau on Friday made several recommendations for a more competitive legal cannabis industry in the country and to safeguard it from illicit market activity.
The recommendations include review of the cannabis licensing process and related costs, adjustments in THC limits for edible cannabis products, and easing of restrictions on cannabis promotion, packaging and labelling.
Cannabis has more than 60 constituents called cannabinoids. THC is perhaps the best known of those, less so for its medical benefits and more for its psychoactive properties that give people a "high" feeling.
The recommendations were submitted to Health Canada and an expert panel in response to the ongoing legislative review of the federal Cannabis Act.
Canada's cannabis consumers spent C$4.52 billion ($3.38 billion) on regulated adult-use products in 2022, according to Statistics Canada.
($1 = 1.3372 Canadian dollars)
(Reporting by Mrinalika Roy in Bengaluru; Editing by Shounak Dasgupta)