Germany imports record amount of marijuana, but growth slows
Germany imported a record amount of marijuana for medical and scientific use in 2022, according to new data from the country’s Federal Institute for Drugs and Medical Devices.
Actionable data for marijuana business owners
Germany imported a record amount of marijuana for medical and scientific use in 2022, according to new data from the country’s Federal Institute for Drugs and Medical Devices.
Canada’s cannabis consumers spent 4.52 billion Canadian dollars ($3.35 billion) on regulated adult-use products in 2022, growing 17.9% over 2021’s sales total, according to new retail sales data released Tuesday by Statistics Canada.
Canada’s regulated medical cannabis market has dwindled significantly from its peak, declining well before recreational marijuana legalization in October 2018 and continuing that downward trend as adult-use sales displaced purchases through regulated medical channels.
Sales of specialty pre-rolls infused with cannabis concentrates have blossomed in Canada’s maturing adult-use marijuana market as consumers embrace the high-potency, ready-to-smoke format.
Top executives at the largest publicly traded U.S. marijuana companies each received up to $2.6 million in salary and bonuses in fiscal 2021, with stock and option awards boosting total individual compensation to as much as $16 million, according to regulatory filings.
Most of the largest U.S. marijuana multistate operators experienced revenue declines in the first quarter of 2022 versus the previous three months, reflecting seasonal factors, declining cannabis prices and inflationary pressures that could be curbing consumer spending.
Canada’s cannabis industry has been sounding the alarm about oversaturation of retail stores, with the CEO of Sundial Growers warning of “massive store closures” and some stores closing or going up for sale in Ontario.
However, every Canadian province except Alberta could actually handle more recreational cannabis stores, according to an industry analyst.