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CANNABISCANADAon Aug 28, 2020 6:56pm
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this is nice to hear,but we will not know until next quarter
this is nice to hear,but we will not know until next quarter | | | | | | | | Legal pot spending beat black market for first time in Q2 in Canada
It was a milestone day for the burgeoning cannabis industry in Canada as household spending on legal cannabis in the second quarter of 2020 outpaced the illicit market for the first time ever. Statistics Canada data released Friday shows that household spending on recreational cannabis reached $648 million in 2020’s Q2 while spending on medical pot came to $155 million. Comparatively, spending on illicit cannabis fell to a new low of $784 million. Taken together, the legal market now accounts for 50.5 per cent of all pot-related spending in Canada. George Smitherman, CEO at the Cannabis Council of Canada, told BNN Bloomberg the spending figures are even more impressive given the pricing pressure placed on dried flower products.
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| | | | | | | | Legal pot spending beat black market for first time in Q2 in Canada
It was a milestone day for the burgeoning cannabis industry in Canada as household spending on legal cannabis in the second quarter of 2020 outpaced the illicit market for the first time ever. Statistics Canada data released Friday shows that household spending on recreational cannabis reached $648 million in 2020’s Q2 while spending on medical pot came to $155 million. Comparatively, spending on illicit cannabis fell to a new low of $784 million. Taken together, the legal market now accounts for 50.5 per cent of all pot-related spending in Canada. George Smitherman, CEO at the Cannabis Council of Canada, told BNN Bloomberg the spending figures are even more impressive given the pricing pressure placed on dried flower products.
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