• Home  / 
  • News
  •  /  Record High Cannabis Sales in Canada Despite Slow Start

Record High Cannabis Sales in Canada Despite Slow Start

Canada Flag on cannabis background

Cannabis sales in the adult usage market in Canada have hit record highs in June after a lackluster start to the first year of the industry being legalized. According to Statistics Canada, sales from the legal adult-use sectors in the Canadian market have exceeded 85 million Canadian dollars in June, a massive set up from the May figures of CA$79 million and the April figures of CA$67 million.

Retails sales in both online and physical stores grew in every province for the second month in a row, with Ontario being the continued front runner with CA$25.8 million in revenue. Quebec came in second with CA$18.5 million and Alberta third with CA18.3 million. British Columbia followed sluggishly, bringing in CA$4.1 million, with users still preferring illegal suppliers over their legalized opponents.

Ontario suffered sluggish recreational sales until its 24 current stores opened in April, with users resisting government authorized online stores. At present, there is only a small selection of marijuana products available, include oils, seeds, dried flowers, seedlings, and soft gel capsules. This, however, is going to change in the upcoming months.

With final regulations in the process of being unveiled by the federal government, soon, edibles, extracts, and topical treatments will start coming onto the market, increasing the forecasted sales into a multi-billion dollar industry. But experts have erred on the side of caution, warning that barrier with supply chains needing to be put in place from scratch could only see a meaningful jump in revenue in 2020.

Click here to add a comment

Leave a comment: