Canada’s surplus of unsold cannabis has reached an all-time high, according to new data obtained by MJBiz.
Health Canada said the country has about 1.5 billion grams (or 3.2 million pounds) of packaged and unpackaged dried cannabis in inventory.
That’s as of December 2022. According to MJBiz, it’s an increase of 1.3 billion grams compared to December 2021.
As the report points out, Canada still seems to be facing a significant supply versus demand problem despite cultivation slowdowns.
According to Health Canada, dried cannabis accounted for just more than half of all sales from October through December 2022.
Still, the ratio for total packaged inventory to retail sales for dried cannabis came in at 3.9 to 1 during the sales period.
