Canada’s retail cannabis sales hit a new record of CAD$318.7M in June

https%3A%2F%2Fwww.commdiginews.com%2Fbusiness-2%2Fcannabis-act-canada-passes-103563%2F

Bethan Rose Jenkins, Cannabis News Writer/Editorial

The Canadian cannabis market is on fire. In June, retail sales of recreational cannabis approached CAD$318.7 million. Equivalent to USD$246.9 million, this amount represents a 1.7 percent increase from May’s recorded revenue. 

Canada’s adult-use cannabis retail sales revenue was published on Friday, August 20 by Statistics Canada. The sales revenue data confirms market value growth for the fourth consecutive month; even though there are more days in May than there are in June.

Based on Statistics Canada’s sales data, the total recorded revenue for May was adjusted downward to CAD$313.2 million (USD$250 million). On a year-over-year (YoY) basis, the North American country’s recreational cannabis sales for the month of June surged by 58.5 percent.

Canada’s adult-use cannabis retail sales revenue: Nova Scotia’s cannabis market generated the most revenue

The most impressionable cannabis market in Canada was Nova Scotia, which took the lead position for Canada’s 10 provinces in regards to monthly sales revenue growth. Based on the data, Nova Scotia’s market saw 10.5 percent inflation to CAD$8.2 million (USD$6.5 million)

Interestingly, recreational cannabis sales in Ontario which is acknowledged as the nation’s largest market soared eight percent on a monthly basis to CAD$120.1 million (USD$95 million.)

Over in Canada’s second-, third- and fourth-largest provincial cannabis markets, June sales slumped on a monthly basis. The data reads as follows:

  • Alberta: -4.4 percent to CAD$57.1 million (USD$45 million)
  • Quebec: -0.7 percent to CAD$49.2 million (USD$39 million)
  • British Columbia: -4.1 percent to CAD$44.5 million (USD$35 million)

Canada’s adult-use cannabis retail sales revenue data for each province

For every other Canadian province, June recreational cannabis sales were as follows:

  • Saskatchewan: +0.7 percent to CAD$13 million (USD$10 million)
  • Manitoba: +2 percent to CAD$12.1 million (USD$9.5 million)
  • New Brunswick: +3.4 percent to CAD$6.6 million (USD$5.2 million)
  • Newfoundland: +3.8 percent to CAD$4.9 million (USD$3.9 million)

It should be noted that cannabis sales revenue information was not released by Statistics Canada for the North American country’s three territories and the province of Prince Edward Island.

However, analysts at Statistics Canada did publish data for a handful of metropolitan locations, including the following:

  • Toronto: +4.9 percent to CAD$43.7 million (USD$34.4 million)
  • Montreal: -2 percent to CAD$24.8 million (USD$19.5 million)
  • Edmonton: +2.4 percent to CAD$19.8 million (USD$15.6 million)
  • Calgary: -4.6 percent to CAD$15.2 million (USD$12 million)
  • Vancouver: -1.4 percent to CAD$14.4 million (USD$11.3 million)
  • Ottawa: +13.3 percent to CAD$12.1 million (USD$9.5 million)
  • Winnipeg: +1.3 percent to CA$8.5 million (USD$6.7 million)
  • Quebec City: -0.6 percent to CAD$5.9 million (USD$4.6 million)
  • Gatineau: -3 percent to CAD$1.5 million (USD$1.2 million)

You can view all of June’s cannabis retail sales figures from Statistics Canada by clicking here. Sales figures for July are anticipated to be published on September 23.