Cannabis sales in Canada reach 200m CAD for the first time in history

For the first time, monthly retail sales of legal Canadian cannabis have surged to over $ 200 million, according to Statistics Canada, which has also just started adding weed to its wholesale sales data. Sales in June rose 7.9 percent to $ 201 million from an earlier record of $ 186.4 million in May. All reporting provinces and territories saw growth during the month, with Ontario returning to the top with revenue of $ 48.9 million - up 18.1 percent monthly - after trailing Alberta in April and May had fallen behind. Alberta, with its massive presence of 514 private retail stores, raised $ 46.7 million in June - a monthly increase of 0.8 percent. Sales in British Columbia rose 7 percent to $ 29.4 million. Mugglehead has worked with retailers in B.C. and Ontario confirms that as the economy reopens, sales will improve. Wholesale cannabis sales also hit a record high of $ 96 million in June - a 106.5 percent year-over-year increase - a number StatsCan first announced Wednesday. "Starting with the reference month of June, the Monthly Wholesale Trade Survey publishes data on cannabis," said the Federal Agency in its latest update. "The data series goes back to October 2018, when cannabis was legalized in Canada. Cannabis sales in Canada were $ 96 million in June, 26.2 \[percent\] more than in May". Wholesale cannabis inventories were reported at $ 183 million, up 2.8 percent a month. Overall, wholesaling continued to recover from the pandemic downturn, jumping 18.5 percent to $ 62.1 billion in June, building on a 5.8 percent increase in May. The June surge resulted in wholesale sales almost back to pre-pandemic levels, according to StatsCan. In dollars, the automotive sector and related subsectors led growth. Excluding this subsector, wholesale sales increased 10.2 percent. "Wholesale sales rose $ 9.7 billion as much of the economy reopened. June sales were $ 2.5 billion lower than February prior to November 19, an improvement over May when sales It was $ 12.2 billion less than February, "says StatsCan. "The wholesale sector saw its highest level of sales in February 2020 before the pandemic caused monthly production to decline by $ 15.1 billion in two months." Since then, more than 80 percent of the drop in monthly sales caused by Covid-19 has been made up for. June sales were just 3.9 percent below February's record high.