MARKET TRANSPARENCY: Canada’s legal cannabis sector, with some glitches, is on a high

, retail cannabis sales in November 2018 — the first full month of legalisation — reached CAN$53.7 million. By November 2021, they had reached just over CAN$353 million. That is a roughlyin the space of three years, which is not bad going for a newly minted licit industry.

So, the price of recreational cannabis in Nova Scotia has been in decline because of Makro-style bulk sales. This kind of data does not exist, or is heavily obscured, when a product is illicit. The contribution of the sector to the economy, and its affordability to consumers and that sort of thing is now out in the open, at least for legal and regulated trade.

“The pandemic boosted marijuana sales both in Canada and the US. But some headwinds did not allow the Canadian pot companies to reap the benefits,” said a recent report inThese are the kind of issues one might expect from a new industry, or an old one that is now forced to shed its shell of secrecy.

As South Africa lurches through a haze of policy uncertainty on the cannabis issue, there are transparent lessons to be gleaned here.

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