Hashish gross sales in Canada dropped to their lowest stage in almost a yr in January, in accordance with the newest figures from Statistics Canada.
Grownup-use hashish gross sales fell by over 11% to C$400.1m in January 2024, down from C$451.8m in December 2023, although this determine was revised upwards from $441.2m.
In comparison with January 2023, gross sales grew by simply 1.2%, marking a big fall in year-on-year progress in comparison with the 14.1% seen between January 2022 and 2023.
Final yr additionally noticed the steepest decline in annual gross sales since legalization in 2018, falling for 3 consecutive months after a excessive level in August 2023, earlier than recovering in December.
Between August and November 2023, retail gross sales fell 12% from C$467m to C$407.9m, though gross sales for the yr nonetheless noticed marginal progress, rising to C$5.08bn from C$5.07bn.
The variety of adult-use hashish shops additionally declined in January, dropping from 562 to 498, the bottom quantity seen since April 2023.
The variety of retail shops throughout Canada additionally declined. As of March 2024, there have been 3,690 (up from 3,682 in January) hashish shops in Canada, excluding provincial on-line shops.
It comes as a lot of key adjustments to Canada’s Hashish Act have been proposed as a part of a long-running overview into hashish legalisation.
As Enterprise of Hashish reported on Friday, this contains adjustments to the excise tax burden, and will permit cultivators to promote on to shoppers.
