- InstaDose Pharma (IDP) is one of Canada’s largest cannabis producers
- CBD oil currently costs £2,188 per litre
- IDP plan to sell their CBD oil for £80 per litre
- IDP own 10,000 hectares of production land in the Democratic Republic of the Congo
Canadian cannabis producer, InstaDose Pharma (IDP), plan on bringing down the cost of CBD oil by nearly 100%.
The Canadian pharmaceutical company has 2 million litres of CBD oil to release on the Canadian market in 2019.
IDP has over 200,000 farmers harvesting cannabis in the African State, the Democratic Republic of the Congo, on over 100,000 hectares of land.
The largest current producer of cannabis in Canada, Canopy, own around 40 hectares of production land. IDP has 400 hectares of production land in Colombia alone.
CEO of Instadose Pharma Grant Sanders (right) meeting with the Vice Minister of agriculture of the Democratic Republic of the Congo (left) (Photo: Business Wire)
In a press release, Grant Sanders, instaDose CEO, explained why the company decided to expand their production into the Congo:
“We quickly realized that growing there was not the smartest option and the production capacity and price that we could achieve in the DRC was 99% more beneficial, to both us and the end user.
“What’s about to happen to the market isn’t a result of what we’re doing, it’s the result of what they’re not.
“You can’t blame Usain Bolt for being the fastest runner in the world just because you’re too slow.
“The cannabis companies of Canada need to understand that just because you are the biggest goldfish in the pond doesn’t mean you shouldn’t be concerned about the whales in the ocean.”
“What’s about to happen to the market isn’t a result of what we’re doing, it’s the result of what they’re not.”
– Grant Sanders, instaDose CEO
Production of cannabis for CBD is currently a costly process, with the patients bearing the brunt. IDP plans to bring the cost for the customer down by nearly 100%:
“Everything in the Canadian cannabis industry is based off the cost being $2,800 (£2,188) per litre for CBD oil.
“While international forces outside the Canadian bubble are able to produce 99.7% purity level at $102.50 USD per litre.
“We’ve kept our operations in the shadows due to concerns about the reaction of this news with licensed producers and the public investment sector.
“But now that our first crops are about to hit the markets in a few months, I think it’s about time the fish learned about the whale.”
IDP is currently in discussions with major pharmaceutical companies to assist with the release of the first batch imported into Canada.
Their main production facility is GMP certified and pharmaceutically accredited with EU Pharmacopeia standards, meaning we could be seeing IDP CBD products on the European market next year.