MJBiz - July 2023 - 18

INDUSTRY DEVELOPMENTS National & International
Cannabis News
Rosie Mattio, founder and CEO
of New York-based cannabis
industry marketing firm Mattio
Communications.
Adult-use marijuana ads will also
be permitted in Missouri's new
adult-use market.
The privately held social media
platform opened the door to
U.S. cannabis advertising in February,
a move welcomed by cannabis
industry marketing leaders.
Twitter has " gathered meaningful
feedback from the cannabis
industry which we have taken into
consideration to create even more
opportunity, " Twitter's Alianiello
noted in the blog post announcing
the ad-policy updates.
Twitter Further Eases U.S.
Marijuana Advertising Rules,
Adds New Markets
Social media site Twitter is letting
vetted, state-legal businesses show
packaged marijuana products in
their marketing campaigns while
allowing ads in new U.S. markets.
Certified cannabis advertisers
" may also continue responsibly
linking to their owned and operated
web pages and e-commerce
experiences for CBD, THC and
cannabis-related products and
services, " Alexa Alianiello, Twitter's
head of sales and partnerships,
wrote in a blog post.
" We have also made some
changes for medical licensees and
opened up additional recreational
markets (some restrictions apply). "
Twitter is now permitting
medical cannabis ads targeting
users in Alabama, Arkansas, Florida,
Minnesota, Mississippi, Missouri,
Oklahoma, Pennsylvania, Puerto
Rico, Rhode Island, South Dakota
and West Virginia, according
to information provided by
18 July 2023 | MJBizMagazine
Canada Pulled in Over
$1 Billion in Marijuana Tax,
Profit in 2021-22
Various levels of the Canadian
government collected more than
1.5 billion Canadian dollars
($1.12 billion) in cannabis profit
and tax revenue in fiscal 2021-22,
according to recently released data
by Statistics Canada.
For the financial year ended
in March 2022, total net income
from province-owned cannabis
businesses, plus total taxes
and other revenue, equaled
CA$1.55 billion.
The data isn't available for other
years.
MJBizDaily previously reported
that Canada's federal government
has assessed more than CA$1 billion
in total duty on cannabis products
between 2018, when adult-use sales
launched, and 2022, according to
the latest federal data.
Private businesses say they're
struggling to stay afloat due to
excessive taxation, as the regulated
cannabis industry adds billions of
dollars to government coffers.
The total duty assessed by the
Canada Revenue Agency swelled to
CA$752.5 million in 2021-22, up 46%
from the 2020-21 fiscal year, when
the federal government pulled in
CA$514 million.
About three-quarters of the
excise taxes applied by the federal
government on cannabis sales
are shared with provinces and
territories.
In the 2021-22 financial year,
Statistics Canada says provincial
cannabis authorities, or wholesalers,
pulled in CA$3.1 billion in sales.
Cannabis authority profits totaled
CA$332.3 million that year.
U.S. Hemp Acreage Plummeted,
Shifted North in 2022
Hemp plantings in the United
States were cut nearly in half in
2022, with 28,400 acres dedicated
to growing the plant-slightly
more than the acreage set aside for
Christmas trees.
Last year's plantings represent a
48% decline in acreage from 2021,
when U.S. farmers planted 54,500
acres of indoor and outdoor hemp.
Hemp production has been
declining because of a lack of clarity
from the federal government on
the regulation and use of hemp
products-particularly those
containing CBD and other hempderived
cannabinoids.
An analysis of U.S. Department
of Agriculture hemp-planting data
from 2022 also shows a shift north
as Southern states below the
37th parallel have almost entirely
abandoned the crop.
In its 2023 National Hemp Report
released in April, the USDA valued
total hemp production in 2022 at
$238 million, down 71% from
$824 million in 2021.
MJBiz - July 2023

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