Cannabis retail experts say sales could one day hit $1 billion a month

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The provinicial pot picture is smoking.

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As it release its monthly figures, Statistics Canada also provided a breakdown of retail cannabis sales by most provinces this week.

As they have since legalization in October 2018 — when they clocked in at just about $50 million a month for the entire country – sales have been on a rapid climb.

Cannabis retail experts remain bullish, even as their industry continues to take some hard knocks during COVID-19.

“We expect that once the illegal market is eradicated to a great extent, you’re going to be looking at sales of approximately one to two billion dollars a month; which is then going to match liquor,” predicted Adam Vassos of the Retail Cannabis Council of Ontario.

It is widely expected 2021 will eclipse 2020 in terms of sales.

“Over the next number of years, the overall scale of the cannabis industry and its contribution to the Canadian economy is going to become more noteworthy,” said George Smitherman of the Cannabis Council of Canada.

Here is the ranking of retail cannabis sales by province for July:

Ontario $126.6 million

Alberta $ 60.6 million

Quebec $ 52 million

British Columbia $ 48.5 million

Saskatchewan $ 13.2 million

Manitoba $ 12.8 million

New Brunswick $ 7.3 million

Nova Scotia $ 8.7 million

Newfoundland $ 5.3 million


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