Ontario cannabis wholesaler hails ‘biggest dive’ in legal market capture

Locals of Canada’s greatest province by market size are purchasing increasingly more cannabis from the legal market, the Ontario Cannabis Shop (OCS) states in a brand-new quarterly report.

Legal cannabis made up 36.2% of all marijuana purchases in Ontario for the quarter covering July, August and September, according to the report, which was launched Thursday.

That represents a quarter-over-quarter boost of 11.1 portion points, which the OCS called “the single biggest dive in market capture from the unlawful market.”

The OCS associated its legal market share price quote to Stats Canada information and its own computations.

The boost in legal market share accompanied a long-delayed boost in the variety of brick-and-mortar cannabis shops in Ontario, where more than 100 merchants were certified to open by late June and authorities began increase the rate of licensing in September.

The large bulk of Ontario’s legal cannabis sales throughout the quarter– more than 85%– happened in physical stores.

” The variety of shops struck 183 by the end of the quarter and is over 280 at the time of publication of this report,” OCS President and CEO Thomas Haig kept in mind in his intro to the report.

” This is a clear indication that continued enhancements in the variety of customers picking legal will be driven by developing much wider gain access to throughout Ontario.”

Legal marijuana sales for the three-month duration amounted to 204.3 million Canadian dollars ($ 160.4 million) on sales of 25.8 million grams and gram-equivalents of cannabis.

The government-operated OCS has a monopoly on legal cannabis e-commerce in Ontario and likewise works as the sole marijuana wholesaler to certified private-sector shops.

Online sales through the OCS “naturally drooped” throughout the quarter, stated Haig, “as (public-health) limitations alleviated and the overall variety of shops grew, developing more chances for customers to go shopping quickly in shops in their neighborhood.”

In its last quarterly report, the OCS stated its online costs were beating black-market costs with a typical cost of CA$ 7.05 per gram.

The brand-new report states OCS’ online costs continued dropping throughout the quarter, to approximately CA$ 6.41.

The typical cost for a gram of cannabis at private-sector stores likewise dropped on a quarterly basis to CA$ 9.45, greater than the CA$ 8.17 illegal market value pointed out by OCS.

Solomon Israel can be reached at [email protected]

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