TORONTO — Ontario’s legal cannabis industry is gaining ground in its fight against the illicit market, but the progress likely won’t last long because of COVID-19 lockdowns.
The province’s pot distributor says between July and September the legal industry controlled slightly more than 36 per cent of the recreational market, up from about 25 per cent the quarter before.
Ontario Cannabis Store chief executive Thomas Haig says the increase is the largest single jump in market share the legal industry has ever seen and noted that it came just 17 days shy of the second anniversary of the legalization of recreational cannabis in Canada.
However, he is warning the legal industry’s market share will decline in the next quarter because of COVID-19 lockdowns that forced pot retailers in Toronto and Peel areas to operate solely through pickup and delivery.
The legal industry has been able to gain some market share because the OCS says 322 products saw their prices reduced during the latest quarter.
The OCS says its sales reached $30.5 million between the start of July and the end of September, while retail stores raked in $173.9 million.
© 2020 The Canadian Press
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