Two Weeks after Legalization Cannabis Stores in Canada Totalled $43 Million: What Does This Indicate for Cannabis Seeds Retailers?

In the first fourteen days after October 2018 when legal cannabis sales officially started in Canada, sales varied across the country, according to Statistics Canada. But more importantly, Canadians bought the mind-blowing $43 million worth of cannabis, bringing in huge profits for marijuana businesses.

What these intriguing numbers indicate for cannabis seeds retailers is an astonishing and highly promising landscape that is slowly but steadily shaping the newborn marijuana industry in Canada.

With more and more Canadian business owners eyeing the cannabis market trends in 2019, establishing valuable connections with wholesale cannabis seeds suppliers is also on the rise. Join us below to find out more about what the mind-bending cannabis sales shortly after legalization indicate for your marijuana seeds business’ sake.

Canadian Provinces after the First 14 Days of Official Cannabis Sales

Statistics Canada, the Canadian government agency that was formed in 1971 and has been commissioned with the production of statistics compiled with a mind to help better understand the Canadian population, economy, society, culture, and resources began collecting data from both online, as well as in-store cannabis retailers as early as of October 17, 2018. Ever since recreational marijuana use was legalized in Canada, the agency has managed to provide essential insights regarding the sales of fresh and dried cannabis buds, marijuana seeds, oils, and cannabis plants.

There are different retail structures in every Canadian province and territory affecting cannabis availability across the country.

For instance, the Ontario province raked in more than $11 million from cannabis sales, while Quebec was left behind with about $10 million in sales.

Meanwhile, Alberta follows up with $5.6 million from marijuana sales in the first two weeks after the Canadian cannabis marketplace official sales began. After Ontario, Quebec, and Alberta, Nova Scotia ranks fourth on the list of highest marijuana sales within the very first 14 days, hitting $4.5 million. British Columbia kicked in with $2.3 million from cannabis sales, followed up by New Brunswick’s $2.1 million worth profit from marijuana sales, Newfoundland and Labrador with $1.7 million, Prince Edward Island with $1.4 million, and Saskatchewan with $341,000.

Because of privacy concerns, data about the cannabis sales figures for Yukon, Northwest Territories, and Manitoba were withheld, while data for Nunavut was unavailable.

Interestingly, despite its small population, Prince Edward Island managed to enjoy the highest cannabis sales per capita than any other province. More than $8 worth of cannabis per person were sold in P.E.I. in those crucial two weeks after legal marijuana sales officially started.

Ultimately, the agency highlighted that cannabis retail figures will certainly vary, especially as new stores keep coming both offline and online, and nonetheless, as the Canadian marijuana marketplace evolves.

The Black Cannabis Market Sales vs. the Legal Cannabis Market Sales

Totaling $43 million from cannabis sales within the very first two weeks does sound more than exciting to many. However, others are still very skeptical about the future of legal pot in Canada. A lot of Canadians point out to the fact that those “guys down the street” aren’t going anywhere near soon. And what’s more, a huge percent of Canadians believe that a dominant part of the cannabis users has actually bought much more marijuana from the illicit market, than the opposite.

While we could only assume what the real number of cannabis sales in Canada might have reached if experts were to have reliable access to data regarding both black market cannabis sales and the legal market cannabis sales, one thing is for sure: legalizing weed has brought and will keep bringing Canada more good than bad, whether it comes to business profits, innovations or the green, sustainable, eco-friendly future that we need to establish so badly within the following decades.

If we are to do some simple calculations, dividing 43 million by an average price of $10 per 1 gram of weed, we’ll get 4.3 million. And so, provided the excise tax is, let’s say, $1 per gram, that is actually a pretty decent profit that goes straight into general revenue.

With this in mind, despite the ongoing battle with the illicit cannabis market sales, even those who do not consume cannabis should be happy and glad about the marijuana-related tax money, especially when taking into consideration that those who don’t use marijuana do not even pay a single dime for the herb yet still benefit from tax revenues. Not to mention that the figures from Statistics Canada estimated the cannabis sales in the first 14 days do not really include any data about medical marijuana sales.

Selling Seeds Might be the Secret Key to Marijuana Businesses’ Success

So, what about businesses engaged with selling cannabis seeds? What should business owners expect in terms of potential profit? As of now, data on cannabis seeds sales in Canada is still rather scarce. And although this will most certainly change within only a few months from the writing of this article, the visionary business-minded individuals are already stacking on marijuana seeds, while others are still looking for reliable wholesale marijuana seeds retailers to partner with.

The truth is, there is barely any more visionary investment in the cannabis business niche than marijuana seeds. There are many reasons why selling cannabis seeds promises to be a winning business strategy but the top reason relating to the stats and facts we shared so far is all about illicit marijuana seeds posing little to zero competition to high-quality cannabis seeds.

Unlike cannabis flowers of decent quality that can be bought from the illicit, as well as from the legal market in Canada, it is not that easy, if possible at all, to lay hands on high-quality marijuana seeds from the average street dealers.

The thing is, high-quality cannabis seeds take years of careful breeding, measuring and testing average cannabinoid content with accuracy and precision, using professional equipment, and above all, stabilizing the seeds’ genetics by growing several generations of a particular cannabis variety so that growers can enjoy a massive, healthy harvest, which is satisfying in both quality, and quantity.

On the other hand, the Canadian government does not permit for edibles to exceed 10 milligrams of THC per package, while cannabis extracts and various marijuana-based topicals would not be allowed to exceed 1,000 milligrams of THC.

Furthermore, regulations propose certain restrictions on ingredients that could potentially make cannabis products more appealing to minors. Altogether with the fact that children-resistant packaging will be required, there is still a long and steep way for edibles producers to go.

In the meantime, people are getting more and more into the art of DIY cannabis derivatives, whether it be edibles that can contain as much THC and/or CBD a user finds to work best for him/her, or whether it comes to homemade cannabis ointments, growing marijuana from seed is extremely alluring and promises more benefits for the consumers than any other option available on the cannabis market.