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Cannabis Briefs for April 23, 2019

April 23, 2019

•In the month of February, Canadian cannabis sales hit their lowest monthly total since legalization, according to Health Canada, as producers have begun stockpiling cannabis reserves to meet demand when edibles are legalized his fall. Canadian consumers purchased 6,671 kilograms of marijuana in February, down about 9% from January and the lowest monthly haul since the initial half-month of sales in October of last year. Concurrently, the total amount of dried cannabis being held by cultivators, processors, distributors, and retailers rose 16% to 144,470 kilograms, or approximately 20 times the monthly sales. Given the Canadian market’s growing pains in moving product through the production chain to consumers, producers are making early preparations for the advent of the edibles category, which is anticipated to vastly outstrip the demand for smokeables.

•Multi-state retailer Vitamin Shoppe joined Walgreens, CVS, and Rite Aid when it began selling CBD supplements last week. Whereas the other retailers have limited themselves to topical products, Vitamin Shoppe is selling a line of Irwin Naturals CBD oil softgel capsules. A basic bottle of 60 15-mg. CBD capsules retails for $33. Available in 14 states, plus Washington, D.C. and Puerto Rico, the Irwin Naturals offerings will be joined next month by Garden of Life Dr. Formulated Broad Spectrum CBD Extract softgels and liquid drops.

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