Sales of cannabis edibles and vape products in January indicated a strong demand from consumers. In particular, demand for edibles has exceeded current supply levels from licensed producers to date. Sales for edibles hit $569,000 in January.
Many licensed producers are still awaiting approval of their licence for edibles, so hopefully Health Canada will speed up their approvals, so more products can be sold through legal channels.
“Every new product we introduce, every price drop we make, and every authorized retail store that opens strengthens the legal marketplace,” says Cheri Mara, Chief Commercial Officer at the OCS. “We’re pleased to reach another milestone of bringing the first deliveries of beverages and topicals to consumers. Licensed producers have invested heavily in the innovation behind these legal, tested products and are again proving to consumers the value of shopping legal.”
At the end of January, Ontario only had 28 stores open and that number increased to 41 at the end of February. Starting in April, Ontario has vowed to open 20 stores a month, so it will be many years before there are enough stores to satisfy the demand in Ontario.
Beverages and Topicals Arrive
CBD beverages from High Park and Valens are now hitting Ontario store shelves. The province’s first topical product, from 48North, will also arrive in stores and OCS.ca this week. OCS has said it will prioritize shipment of these new products to retail stores, as there is limited initial supply of these Cannabis 2.0 products.