Canadian exports of medical cannabis hit an all-time high last year as the county’s licensed producers continue to diversify from the competitive local market in favor of pursuing top-line opportunities overseas.
In the 2023-24 fiscal year, Canada exported roughly 218 million Canadian dollars ($189 million) worth of medical marijuana products for commercial and scientific use, MJBizDaily has learned.
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That’s an increase of more than 36% from the previous year’s exports of CA$160 million.
The data from regulator Health Canada paints a picture of brisk and consistent growth in the export sector.
In previous years, the revenue of cannabis exports reported by licensed producers was:
CA$8 million in 2019-20. CA$39 million in 2020-21. CA$107 million in 2021-22.
Health Canada said the 2023
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