Canadian cannabis sales top $245 million in August

Original article can be found here: https://mjbizdaily.com/canadian-cannabis-sales-grow-to-nearly-ca245-million-in-august/

Canadian sales of legal adult-use cannabis grew by 5.2% from July to August, reaching a monthly total of 244.9 million Canadian dollars ($186.9 million).

The monthly record for Canadian marijuana sales implies an annualized market worth more than CA$2.9 billion. Statistics Canada’s retail trade data for August tracked sales in all 10 provinces, plus the Northwest Territories and Yukon.

In Ontario, recreational cannabis sales grew by 10.9% on a monthly basis to CA$66.9 million.

Quebec experienced more modest monthly growth, with sales increasing by 1.7% to CA$44.6 million.

British Columbia’s licensed cannabis retailers sold 5.3% more marijuana products in August than in July, with sales reaching CA$36.5 million.

Alberta, the fourth-largest province by population and home to the most cannabis stores of any Canadian jurisdiction, saw monthly sales growth slow to 1.5%, with CA$52.6 million of cannabis sold in August.

In Manitoba, where a new wave of licensed cannabis stores began opening in late summer, monthly sales grew by 5.5% in August to CA$9.6 million.

Saskatchewan posted monthly sales of CA$12.9 million, a 1.6% increase over July.

Monthly sales and growth in Canada’s smaller Atlantic provinces were:

• Nova Scotia: CA$7.6 million (+8.7%).
• New Brunswick: CA$6.7 million (+3.8%).
• Newfoundland: CA$4.7 million (+13.5%).
• Prince Edward Island: CA$1.7 million (+8.1%).

August sales in the Northwest Territories and Yukon were CA$412,000 and CA$723,000, respectively.

Statistics Canada is scheduled to release retail trade figures for September on Nov. 20.

August’s data can be found here. Sales for Coastal Mary Seeds can be found here.