Marijuana Business Daily

Canada adult-use marijuana sales down 7.1% monthly to CA$395.5M in January

Published

1 year ago

March 24, 2023

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Monthly retail sales of legal adult-use marijuana in Canada declined by 7.1% from December 2022 to January 2023, to 395.5 million Canadian dollars ($287 million).

Canadian cannabis sales grew 14.1% on an annual basis from January 2022, according to retail sales data released Friday by Statistics Canada.

Month-over-month recreational cannabis sales declined in every province except Saskatchewan, where sales grew 12.6% over December’s total to CA$19.1 million.

Sales in Ontario – Canada’s most valuable market – declined by 9.5% from December to CA$155 million.

In the remaining provinces, monthly marijuana sales and month-over-month changes were as follows:

Alberta: CA$69.5 million (-5.8%) British Columbia: CA$60.6 million (-3.9%) Quebec: CA$49.5 million (-9.3%) Manitoba: CA$16.8 million (-8%) Nova Scotia: CA$9 million (-9.2%) New Brunswick: CA$6.5 million (-14.8%) Newfoundland: CA$6 million (-6.1%) Prince Edward Island: CA$1.7 million (-11.6%)

Sales in Yukon territory declined 12.7% to CA$843,000.

Statistics

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MedMen receiver sets date to meet with creditors after cannabis MSO’s bankruptcy filing

Published

2 days ago

April 30, 2024

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Creditors of cannabis operator MedMen Enterprises will meet in a few weeks as investors seek repayment for hundreds of millions of dollars in outstanding debt.

The cash-strapped company entered bankruptcy proceedings in Canada on Friday and placed its California retail assets in receivership, the first steps to unwind the business and sell off assets in liquidation.

The developments usher in the end of the company’s days as a marijuana multistate operator and cement perhaps the most precipitous downfall in the marijuana industry to date.

With creditors reporting more than 560 million Canadian dollars ($410 million) in claims, MedMen likely represents the largest failure in U.S. and Canadian marijuana retail history.

At one point, the company operated more than 20 stores nationwide, including about

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German cannabis imports rise to 34.6 tons as cultivators eye end of quota system

Published

6 days ago

April 26, 2024

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Germany imported a record amount of cannabis for medical and scientific use in 2023, as international businesses looked for sales opportunities in Europe’s largest federally regulated medical marijuana market.

In 2023, Germany imported 31,398 kilograms (34.6 tons) of cannabis products, according to the newest data from the country’s Federal Institute for Drugs and Medical Devices (BfArM).

That’s a 26.2% increase over the 24,876 kilograms imported the previous year.

In previous years, Germany imported:

24,876 kilograms (27.4 tons) of cannabis in 2022, up 19.8% over 2021. 20,771 kilograms (22.9 tons) in 2021, a 77% surge over the previous year. 11,746 kilograms (12,8 tons) in 2020, 46% more than in 2019. 8,057 kilograms (8.9 tons) in 2019, which was 80% more than 2018’s total

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Why are US officials seizing regulated cannabis in New Mexico?

Published

1 week ago

April 22, 2024

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A New Mexico congressman is pressing the U.S. Department of Homeland Security to account for what regulated marijuana operators claim is a rash of seizures of state-legal cannabis at Customs and Border Protection checkpoints.

Six incidents of product loss totaling hundreds of thousands of dollars have been reported by licensed marijuana companies in New Mexico since February, when operators first alerted the state’s Cannabis Control Division about the situation, according to documents shared with MJBizDaily.

In addition to border crossings, Customs and Border Protection (CBP) maintains inspection stations along major highways in border states.

Between Feb. 14 and April 18, agents intercepted state-regulated marijuana products at the Alamogordo and Las Cruces stations operated by CBP, state documents show.

Products seized by CBP included

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