Canadian cannabis sales shrink 7.5% to CA$365.7 million in February

February sales of regulated recreational marijuana in Canada declined roughly 7.5% from January, totaling 365.7 million Canadian dollars ($270 million) for the month, according to new retail sales data released Friday by Statistics Canada.

February was three days shorter than January, and Canadian cannabis sales typically slow during the first months of the year because of seasonality.

Adjusted to equalize the number of days in each month, February cannabis sales would have increased roughly 2.4% over January.

On an annual basis, retail cannabis sales in Canada increased 12.8% over February 2022.

Adult-use marijuana sales through licensed stores declined on a month-over-month basis in every Canadian province and territory tracked by Statistics Canada, as follows:

• Ontario: CA$141.8 million (-8.5%).
• Alberta: CA$65 million (-5.9%).
• British Columbia: CA$55.9 million (-7.9%).
• Quebec: CA$45.1 million (-9%).
• Saskatchewan: CA$17.5 million (-8.5%).
• Manitoba: CA$16.7 million (-2.4%).
• Nova Scotia: CA$8.5 million (-6.1%).
• New Brunswick: CA$6.1 million (-5.8%).
• Newfoundland and Labrador: CA$5.6 million (-7.7%).
• Prince Edward Island: CA$1.7 million (-2.3%).

In Yukon territory, February sales declined 6.5% on a monthly basis to CA$788,000.

Cannabis sales for the Northwest Territories and Nunavut were not reported.

Canada’s cannabis sales total for January was revised slightly downward to CA$395.4 million.

In 2022, Canadian retail spending on legal recreational cannabis was worth CA$4.5 billion.

Source: https://mjbizdaily.com/canadian-cannabis-sales-shrink-7-percent-ca366-million-in-february/