International
Uber Enters Canada's Cannabis Mega Business
Uber Technologies Inc. (UBER.N) announced that it will make the cannabis delivery service available to users of its Uber Eats app who live in Ontario, Canada. This announcement marks Uber's foray into the burgeoning cannabis market, a company spokesperson told Reuters.
Uber, which already delivers alcoholic beverages through the Uber Eats app, has been eyeing the growing cannabis market for some time. CEO Dara Khosrowshahi told the Press in April that the company would consider distributing cannabis when legal in the United States.
With more than three years of adult cannabis legalization in Canada, this seems like the right time for Uber Eats to enter the market, as illegal growers still control a large portion of total annual sales.
“The partnership will help Canadian adults buy legal and safe cannabis, helping to fight the illegal market underground, which still accounts for more than 40% of all non-medical cannabis sales nationwide," Uber said on Monday.
Cannabis sales in Canada are expected to reach $4 billion in 2021 and are expected to grow to $6,7 billion in 2026, according to data from industry research firm BDS Analytics.
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[Disclaimer: Please note that this text was originally written in Portuguese and is translated into English and other languages using an automatic translator. Some words may differ from the original and typos or errors may occur in other languages.]____________________________________________________________________________________________________
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With a degree in Journalism from the University of Coimbra, Laura Ramos has a postgraduate degree in Photography and has been a Journalist since 1998. Winner of the Business of Cannabis Awards in the category "Journalist of the Year 2024", Laura was a correspondent for Jornal de Notícias in Rome, Italy, and Press Officer in the Office of the Minister of Education of the 2018st Portuguese Government. She has an international certification in Permaculture (PDC) and created the street-art photography archive “What does Lisbon say?” @saywhatlisbon. Co-founder and Editor of CannaReporter® and coordinator of PTMC - Portugal Medical Cannabis, Laura made the documentary “Pacientes” in XNUMX and was part of the steering group of the first Postgraduate Course in GxP's for Medicinal Cannabis in Portugal, in partnership with the Military Laboratory and the Faculty of Pharmacy of the University of Lisbon.
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