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Pot Exports Harmed By Strong Loonie
Pubdate: Fri, 28 Sep 2007
Source: StarPhoenix, The (CN SN)
Copyright: 2007 Reuters
Contact: http://www.canada.com/saskatoonstarphoenix/letters.html
Website: http://www.canada.com/saskatoonstarphoenix/
Details: http://www.mapinc.org/media/400
Bookmark: http://www.mapinc.org/mjcn.htm (Marijuana - Canada)
Bookmark: http://www.mapinc.org/decrim.htm (Decrim/Legalization)
POT EXPORTS HARMED BY STRONG LOONIE
VANCOUVER (Reuters) -- The strong Canadian dollar has hit the illegal
marijuana sector just as it has other industries that export to the
United States, one of Canada's best known legalization advocates said
Thursday.
But western marijuana growers have also benefited from Canada's strong
economy, especially the booming Alberta oilpatch, which has increased
domestic consumption, according to Marc Emery, a founder of the
British Columbia Marijuana Party.
A stronger loonie has cut the profit of selling potent B.C. Bud
marijuana in U.S. markets at a time when producers in Canada struggle
with tighter border security and competition in the United States with
pot from other sources.
Top-quality Canadian pot is selling for $3,500 US a pound in the
United States, compared with $2,400 Cdn. in domestic markets,
according to Emery.
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