Canadian Cannabis Sales Increase 108% in September to C$256 Million

Article by New Cannabis Ventures

Canadian Cannabis Sales Increase 108% in September to C$256 Million

Statistics Canada released September retail sales for the country this morning, with cannabis sales growth slowing sequentially off of a revised higher August level but accelerating annual growth to 108.5%. Sales of C$256.3 million grew 1.8% from August.

Hifyre IQ had forecast sales of $261 million based upon its data.  The data analytics provider had estimated October growth to be 3% above its September forecast.

All of the growth came from Ontario, which accounted for a $3 million sequential gain, and British Columbia. Value-priced flower and the expansion of next-generation products, like vapes, is helping along with store expansion.

Read the full article here.

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