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Pot-buying frenzy has slowed in Canada amid COVID-19 pandemic
MONTREAL -- Canadians seem to have slowed their pot buying frenzy amid the COVID-19 pandemic.
Michael Singer, interim chief executive of Aurora Cannabis, says people were stocking up in March, when there was a concern the pandemic could disrupt the supply chain.
But he says after the industry was deemed an essential service in several provinces, things went back down to pre-pandemic levels in April.
In Aurora's third quarter, which encompassed the first weeks many Canadians spent working from home as well as physical distancing, the Edmonton-based company sold 39 per cent more cannabis than the previous quarter.
That spike was also seen in March and April by the provincial pot distributors in Ontario and Quebec.
The initial spike and COVID-19 posed challenges for the cannabis industry, which was already grappling with mass layoffs, the rollout of edibles and executive shakeups.
This report by The Canadian Press was first published May 16, 2020.