June 26, 2022

OsoyoosToday

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Cannabis sales in Canada increased to C $ 358.8 million

The legalization of cannabis for entertainment in Canada in October 2018 contributed to the country’s gross domestic product (GDP), which last year was $ 43.5 billion, but this year this number is undoubtedly higher.

Canadian sales of regulated recreational cannabis have reached an all-time high Approximately $ 358.8 million According to retail data for March ($ 279.6 million) Statistics Canada Recently released.

This figure represents a 10.7% increase in comparison February cannabis salesMarch is considered to be three days longer than February.

February sales were down to C $ 324.1 million or C $ 12.3 million lower than previously reported by Statistics Canada.

Ontario’s C $ 145 million worth of cannabis sales accounted for 40.4% of national monthly total sales in March, up 10.9% from February.

Alberta’s cannabis sales in March were worth $ 63.2 million, up 9.9% from the previous month.

In British Columbia, monthly sales rose 21.3% to $ 56.2 million from February.

Retail sales and monthly increase in March in the remaining provinces:

-Quebec: CA $ 42.5 million (+ 1.5%).

-Susk Seven: CA $ 14.9 million (+ 1.5%).

-Manitoba: CA $ 13.9 million (+ 14.5%).

-Nova Scotia: CA $ 8.1 million (+ 14.4%).

-New Brunswick: CA $ 6.3 million (+ 9.3%).

-Newfoundland and Labrador: CA $ 5.2 million (+ 8.9%).

-Prince Edward Island: CA $ 1.8 million (+ 9%).

In the Yukon region, monthly sales increased 11.4% to CA $ 844,000.

Statistics do not report monthly cannabis sales in Nunavut or northwestern Canada.

In 4 years, the sector has sold millions of Canadian dollars, especially in the first quarter of this year and it has made a huge contribution to the Canadian economy, although it can still make a greater social contribution to Canada. It must respond to the significant environmental impact generated by energy consumption, carbon emissions and waste production.

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Cannabis was already a widespread alternative to traditional medicine in Canada before it was legalized for recreational use. Its medical use, legalized in the country since 2001, is used by hundreds of thousands of Canadians to combat sleep disorders, depression and anxiety disorders.

In the same way, thousands of Canadians are registered in private cultivation for medical use and hundreds of licenses have been created for the cultivation and / or sale of treated cannabis. The products were legalized in October 2018.

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