When it comes to the legal retail cannabis market in Canada apparently Alberta is a leader among the provinces.
According to ATB Financial’s Economics & Research Team, the Alberta Liquor and Gaming Commission has issued more than 280 licences for retail cannabis stores.
“While a blackmarket still exists, $170 million in retail sales were recorded in Alberta between October 2018 and August 2019 with sales in August reaching $24.8 million. This works out to about 0.3 per cent of Alberta’s total retail sales for that month,” said ATB on Thursday in its daily economic update The Owl.
“Calgary and Edmonton accounted for 61.9 per cent of provincial sales in August. Edmonton’s retail cannabis stores posted slightly higher numbers than Calgary’s, with Edmonton accounting for 31.8 per cent of provincial sales and Calgary for 30.1 per cent.”
Nationally, retail cannabis store sales came in at $127.4 million in August. Alberta accounted for 19.5 per cent of that figure compared to 11.6 per cent of the national population, said ATB.
“With a total of 500 retail licences expected to be in place in Alberta by 2021, legal sales should continue to increase, but it is hard to say by how much. Prices, blackmarket sales and consumption levels may change over time,” it said.
“Recreational cannabis consumption by adults was legalized on October 17, 2018. The sale of edible products and concentrates was legal as of October 17, 2019.”