Canada’s Cannabis Industry Forum: The Good, Bad and Ugly “Perfect is the Enemy of Good” Voltaire Two days ago, Canada’s federal government clumsily announced the creation of a cannabis industry forum. This ‘strategy table’ will give 9 industry stakeholders a setting to discuss industry opportunities and challenges with some requisite government officials. The forum was organized under the guise of the department of Innovation, Science and Economic Development (ISED). The combined group met initially and in secret last year. Frustratingly, no agenda, outputs or meeting minutes have been publicly released. True to form, there has been a considerable amount of sector and media criticism. Not surprisingly, some of this criticism is on point and while other sentiments fully miss the mark. Let’s break it down: The Good > Though it could be a ‘fig leave’ for the Fed’s weak collaboration or a sop to the cannabis industry, any engagement in this business climate is a positive thing. Besides, what’s the alternative? > The industry participants are broadly representative of the sector and its needs. They include large & small producers, retailers, exporters, LPs with significant ties to tobacco & alcohol, and public & private firms. > One may have recruited better (we don’t know if any LPs declined an invitation) but size also matters. Having a modest number of participants is more practical though it inevitably means there won’t be a perfect balance of organizations, individuals, and interests. > Commercial aspects of the national cannabis file are moving to where they naturally belong, the ISED, versus where they were, Health Canada. The Bad > As is typical with govt, the Feds dropped the ball on setting up the forum, employing it, and communicating its purpose and results. Although we don’t know if industry recommendations will make it into the pending review of the Cannabis Act, methinks it may be too little, too late for this round. > The govt’s opaque recruitment of participants gives the patina of an industry cabal exerting undue influence. This is baseless. Also, it should be self-evident that no one producer type or firm has a monopoly on virtue or vice. > The forum is duplicative – or worse. Why form a separate group when you already have a broad industry association (Cannabis Council of Canada) with many worthy companies? A conspiratorial mind could interpret the forum as a govt attempt to divide the industry or an effort by some LPs to push their narrow interests. The Ugly > Many critics defaulted to the usual pettiness, parochialism, and lack of the big picture. Right now, we need unity not division. > The ISED's public announcement was confusing, befuddled and full of bromides, suggesting a lack of role clarity and understanding of industry issues. #cannabis #canada #CannabisAct #regulations #LPs #cannabisindustry

Posted by Mitchell Osak at 2024-02-23 21:00:04 UTC