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CANNABISCANADAon Jun 26, 2021 8:47am
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Your Saturday read Canadians buy $309M of cannabis products in April, hitting new monthly record: StatsCan
Canadians bought $309 million worth of cannabis in April, setting a new monthly record as retailers look to bounce back from a volatile period of pandemic-caused lockdowns. Cannabis sales were up about four per cent from March and 7.2 per cent on a per-day basis, according to Statistics Canada. Canada's cannabis industry now operates at a $3.71 billion annualized run rate. Most provinces and territories reported flat to little sales growth from March, but Ontario and British Columbia outperformed, rising about five per cent and 13 per cent, respectively. Eight Capital Analyst Graeme Kreindler said in a report that the sales figures show the industry continues to exhibit growth despite many licensed producers experiencing a decline in revenue amid increased competition. "We continue to maintain a constructive outlook for further growth in 2021 as lockdown restrictions ease into the summer alongside an expansion in the number of licensed retail locations," Kleindler said. |
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