Canadian recreational cannabis sales decline in October

Monthly retail sales of regulated recreational cannabis in Canada declined by 0.8% from September to October, totaling 389.2 million Canadian dollars ($286 million).

On an annual basis, adult-use cannabis sales grew 9.5% over October 2021, according to new data from Statistics Canada.

The monthly marijuana sales total for September was revised upward to CA$392.3 million, from the previously reported figure of CA$389.9 million.

The month-over-month sales decline came even though October was one day longer than September.

October cannabis sales declined significantly in British Columbia, Canada’s third-most-valuable provincial cannabis market.

B.C. recreational cannabis sales for the month totaled CA$57.5 million, a 6.7% decrease from September.

Canada’s largest provincial marijuana market, Ontario, saw its monthly sales shrink 1.2% from September to CA$153.7 million.

In the second-largest market, Alberta, sales grew 2.7% on a monthly basis to CA$70.5 million.

Here are October sales totals and month-over-month changes for the remaining provincial:

• Quebec: CA$49.8 million (+0.1%).
• Saskatchewan: CA$16.1 million (+3.7%).
• Manitoba: CA$15.9 million (+0.5%).
• Nova Scotia: CA$9.2 million (+2.1%).
• New Brunswick: CA$7 million (+2.2%).
• Newfoundland and Labrador: CA$5.6 million (-0.7%).
• Prince Edward Island: CA$1.9 million (+3.9%).

October adult-use cannabis sales in Yukon territory totaled CA$953,000, a 5.6% decline from September.

Statistics Canada did not report cannabis sales figures for Canada’s remaining two territories, the Northwest Territories and Nunavut.

Retail sales of all goods in Canada increased by 1.4% from September to October.

Source: https://mjbizdaily.com/canadian-recreational-cannabis-sales-decline-in-october/