Cannabis & Culture Magazine

Legal cannabis in Canada hits the black market for $ 41 million in the first month

37 0


Read in Spanish

Cannabis sales contributed to the state a total of $ 41 million in sales during the first month sales since its legalization in December.

These statistics were released by Statistics Canada (StatCan), which in November had estimated $ 43 million Canadian dollars during the first two weeks.

Follow us on Instagram: @mcnglobal

“Sales numbers will vary as new stores emerge and the market evolves,” the report says.

These reports are good news for investors who speculate that the market will be worth between $ 5.5 billion and $ 10 billion.

Many Canadian companies have tried to start operations and influence the laws of countries such as Colombia, Costa Rica and some parts of South America to be the first to develop industries. His approach is to corporatize the production of medicinal cannabis.

Among them, Canopy Growth Corp, Tilray and Aurora Cannabis Inc.

The news is also seen with positivism in the government. The law seems to be fulfilling the objectives by which Prime Minister Justin Trudeau decided to support the initiative.

“We are going to take the market out of criminals and lower consumption in adolescents,” Trudeau said when the law with which Canada became the first G-20 country to legalize this substance after almost 100 years of prohibition was passed.

The law has been applied in each province independently. This may be one of the reasons why the Statistics Canada estimates were not fully met. Since in places like Ontario, the most popular province, so far, only online sales are allowed.

Meanwhile, the demand has been such that the stores have run out of products limiting the options for consumers. Groceries are prohibited and according to entrepreneurs, the market is still immature to have foreseen the situation.

Note: According to StatCan, sales in the first two months reached the figure of $ 42 million Canadian. This new figure of $ 41 million is based on US dollars.

Follow us on Instagram: @mcnglobal

Era de legalización: California

California: el mercado de cannabis más grande del mundo espera generar $4-5 mil millones de dólares en 2018. Mira cómo lo están logrando:

Posted by Medical Cannabis News Costa Rica on Wednesday, July 4, 2018

Leave A Reply