Canadian cannabis sales climbed back up 8.16% to $441.23 million in December after a gradual decline from August 2023 according to new Statistics Canada data.
December 2023 sales were up 3.61% year-over-year. November’s sales figures were also revised to $407.94 million, down from the previously reported $412.10 million.
In 2023, monthly sales started at $395.44 million in January, peaking at an ultimate high of $446.99 million in August. Total sales for the year were $5.07 billion, compared to $4.52 billion in 2022 and $3.83 billion in 2021, signaling a slowing growth rate for the Canadian cannabis market.
In December, while Quebec and British Columbia both saw drops in their monthly sales, all other provinces increased month-over-month with Ontario leading the way with a 19.25% increase. This month, wholesale cannabis prices also started to rebound.
Prairies
Sales increased 11.33% in Alberta to $82.01 million in December; Calgary and Edmonton saw similar month-over-month increases of 10.36% and 12.05%, respectively. Alberta’s sales increased 11.16% year-over-year.
On January 31, 2024, a number of policy changes came into effect in Alberta, in an effort to reduce red tape. Retailers can now sell cannabis at adult-only events and sell to other licensed cannabis retailers. Changes were also made to physical security requirements, cannabis sample sizes, and disposal and handling procedures.
December sales were up 10.05% in Saskatchewan to $15.96 million, but sales in the province dropped 5.76% year-over-year.
Manitoba hit $18.72 million in sales in December, up 8.66% from the prior month and up 2.22% from the same month last year.
Ontario
Canada’s largest cannabis market hit $184.28 million in sales in December, up 19.25% from the previous month and up 7.66% from December 2022. Similarly, sales in Toronto and Ottawa both increased 19.24% month-over-month.
While Toronto saw a 11.02% increase in sales from December 2022, sales in Ottawa dropped 3.11%.
Quebec
BC and Quebec were the only provinces to see a decline in monthly sales in December. Sales in Quebec shrank by 5.23% to $49.37 million. Sales in the province also dropped 9.55% year-over-year.
Similarly, monthly sales dropped by 13.64% in Montreal, 15.12% in Quebec City, and 2.79% in Gatineau.
The Société québécoise du cannabis (SQDC) recently released financial results for the third quarter of its 2023-2024 fiscal year, which ended December 30, 2023. The SQDC’s overall sales from September 10 to December 30, 2023, reached $201.6 million, compared with $187.3 million for the same quarter of the preceding fiscal year, a 7.6% increase.
British Columbia
Sales decreased 12.59% in BC to $59.01 million in December. Sales in the province dropped 6.44% year-over-year.
Monthly sales were down 9.55% in Vancouver to $19.94 million, but have only dropped 3.16% since December 2022.
A long-awaited policy change was announced by the province in February 2024. Government amended regulations to allow for cannabis consumption on public patios where vaping and tobacco smoke are authorized. Usage within cannabis stores remains banned.
BC’s second largest city also announced it will finally be allowing cannabis retail stores. The City of Surrey released its draft plan proposing up to 12 cannabis stores in the city.
Maritimes
December sales were up across the board in the Maritimes: Newfoundland sales increased 12.66% to $7.88 million; PEI sales increased 10.05% to $2.21 million; Nova Scotia sales increased 14.40% to $10.99 million; and finally, New Brunswick sales increased 11.39% to $8.39 million.
Each province also had year-over-year growth in sales, with Newfoundland seeing the highest increase in sales since December 2022 at 23.11%.
Cannabis NB recently shared its financial results for the third quarter of 2023-2024 ending December 31, 2023. Sales were up 10.5% to $23.9 million, with dried flower dominating cannabis sales, and more private retail locations on the way.
Provincial Sales (x1,000)
Canada: $441,225 (8.16%)
Newfoundland: $7,883 (12.66%)
Prince Edward Island: $2,212 (10.05%)
Nova Scotia: $10,994 (14.40%)
New Brunswick: $8,394 (11.39%)
Quebec: $49,374 (-5.23%)
Montreal: $25,281 (-13.64%)
Quebec City: $4,885 (-15.12%)
Gatineau: $1,431 (-2.79%)
Ontario: $184,277 (19.25%)
Toronto: $60,825 (19.24%)
Ottawa: $16,583 (19.24%)
Manitoba: $18,716 (8.66%)
Winnipeg: $11,618 (8.48%)
Saskatchewan: $15,995 (10.05%)
Alberta: $82,006 (11.33%)
Calgary: $22,666 (10.36%)
Edmonton: $28,044 (12.05%)
British Columbia: $59,009 (-12.59%)
Vancouver: $19,936 (-9.55%)
Yukon: $1,152 (13.83%)
Source: Statistics Canada
Photo courtesy of ON High