Cannabis sales in Nova Scotia continue to rise: Report

CITYnews halifax / By Natasha O’Neill

Cannabis sales are increasing across the province, according to the first quarter financial results from the Nova Scotia Liquor Corporation (NSLC).

From April 1 to June 30, NSLC reported $31.2 million in cannabis sales, this is up 7.3 per cent when compared to the previous first quarter in 2023. Local cannabis accounts for about 30 per cent of the market, which was slightly down by 1.4 per cent.

Overall the corporation is reporting a 0.5 per cent decrease in earnings, despite total sales up 1.5 per cent equaling $222.5 million.

While beverage alcohol sales are hovering around $191.3 million, the corporation is noting alcohol declines while cannabis popularity rises.

“Expanding access to safe and legal cannabis continues to be a primary focus for us, and we continue to look for ways to combat the illicit cannabis market,” Greg Hughes, President & CEO of NSLC, said in a press release. “We were pleased to add another cannabis store to our retail network this quarter.”

The new store opened after the complete renovation of the Shelburne location, bringing the total number of cannabis stores to 50 across Nova Scotia. Originally when the product was first legalized in 2018, the province opened 12 stores.

Alcohol sales to bars, pubs and restaurants declined by 1.1 per cent over the quarter, while other avenues increased like sales to Private Wine and Specialty Stores, the report notes.

Local beverage alcohol increased to $24.7 million due to ready-to-drink sales, which grew 11.2 per cent.