The cannabis industry is booming in Centre-du-QuébecQuébec

Seven years after cannabis was legalized, a cannabis production company is taking root in Centre-du-Québec, despite market challenges.

According to Joël Lalancette, CEO of 5 Points Cannabis, the cannabis market is currently challenging. 

In Quebec, about 30% of consumers source their cannabis from places other than the Société québécoise du cannabis (SQDC), which leaves room for a thriving black market. Furthermore, prices are low and have remained virtually unchanged since 2019.

Yet 5 Points Cannabis is bucking the trend, with ongoing investments, growing production, and a commitment to exploring new markets.

“There are a lot of people in the early days of the cannabis market who viewed cannabis as a stock market investment, which it isn’t. It’s agricultural production. To grow cannabis, you need a farmer,” explains Joël Lalancette.

This farming mindset stems from the fact that, prior to 2019, the company was involved in flower production and then greenhouse strawberry cultivation. “We work very hard. You have to put in a lot of hours and be there all the time,” adds Joël Lalancette.

Annually, 19 metric tons are grown, processed, and sold. From genetic research to packaging, including flowering and harvesting, every step—right up to delivery in trays to the SQDC—is carried out directly at the Pierreville plant.

TO CONTINUE READING: Radio-Canada