Legal Cannabis Outsells Ontario Illicit Market for First Time

High Times

Sales of legal cannabis outpaced the illicit market in Ontario for the first time ever during the second quarter of this year, according to new data from the province’s only licensed online cannabis retailer.  “Ontarians chose to purchase more than half of their cannabis through legal channels, as Ontario’s legal market share increased to 54.2 percent, up from 47.1 percent the previous quarter,” the Ontario Cannabis Store (OCS), which is also the province’s sole licensed cannabis wholesaler, wrote in its latest quarterly report. The figure is based on data collected by Statistics Canada from cannabis consumers, who may have a tendency to under-report purchases from unlicensed sources. But Jennawae McLean, the co-founder of Kingston, Ontario cannabis dispensary chain Calyx + Trichomes, said that the number is not inconceivable. “When it comes to the unregulated market, (sales) are a difficult number to pinpoint, but assuming the reporting is true, it’s not hard to believe,” said McLean. “The number of stores in Ontario has grown exponentially over the last… two years. It’s really just completely exploded.” The number of licensed cannabis retailers in Ontario has spiked to 1,115 over the past several months. At this time last year, there were only 183 legal dispensaries in the province and only 53 were in operation two years ago. Licensed cannabis sales by licensed retailers totaled nearly 394 million Canadian dollars ($306.7 million) between July and September of this year, compared to CA$204.3 million during the same period the year before. A record 56 million grams of licensed cannabis across all product types were sold during the quarter. The vast majority of sales, 96 percent, were recorded by brick-and-mortar dispensaries, with online sales making up the difference. Legal Cannabis Market Share Growing Rapidly When licensed cannabis sales began in Canada in 2018, licensed retailers accounted…

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Source : Legal Cannabis Outsells Ontario Illicit Market for First Time

reposted by Cannabis News World

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