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Monthly pot sales jump 8.5% in December as annual revenue hits nearly $4B

Canadians bought $3.92 billion worth of cannabis in 2021 following a strong December that was fuelled by holiday-related spending. Statistics Canada said Friday that Canadian cannabis sales rose by 8.5 per cent in December from the prior month to $382.4 million, while increasing by just five per cent on a per-day basis. Sales were up by 28.5 per cent compared to the same month a year earlier, the StatsCan data showed. Much of December's sales were driven by double-digit increases from Atlantic and Western Canadian provinces, with Nova Scotia leading the country with a nearly 16 per cent lift in retail activity. Ontario, which continues to account for the lion's share of Canadian cannabis sales, with about 40 per cent of the total market, only reported a five per cent monthly gain. From the December sales figures, Canada's legal recreational pot industry currently operates at an annual run rate of about $4.58 billion.

 

Quebec's pot shops notch $26.4M profit in Q3 as store count climbs 
 
Quebec's provincially-owned cannabis board recorded a third-quarter profit of $26.4 million, an increase of 13.3 per cent from the same period last year, the Canadian Press reports. Sales tallied by the Socit qubcoise du cannabis (SQDC) grew 10 per cent in the third quarter year-over-year to $190.5 million. Quebec counted 81 provincially-owned cannabis stores at the end of the most recent quarter, up from 56 at this time last year. The province now has a total of 84 licensed cannabis stores, according to ATB Capital Markets. Quebec added $56.3 million in cannabis-related taxes - which includes fees to both levels of government and excise taxes - to its coffers in its most recent quarter, the Canadian Press said.