Legal recreational cannabis sales in Canada outstrip illicit spending for first time
The legal market’s overall success, however, has not resulted in a windfall for large producers
Marijuana Business Daily (US)
Thursday, February 4, 2021
Thursday, February 4, 2021
Sales of regulated adult-use cannabis in Canada overtook illegal transactions for the first time in the third quarter of 2020, according to new Statistics Canada data. That development demonstrates the success of legalization in these early years, experts say, though more needs to be done regarding taxes and promotions rules to put the regulated industry on firmer ground to compete with the legacy market. Falling prices, a wider breadth of consistent inventory and growing retail options have all contributed to the legal market’s success. Spending on nonmedical cannabis products in the third quarter of last year reached 824 million Canadian dollars ($644 million).
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