The Canadian cannabis oil market has been increasing in volume day by day, so much so that it tripled in sales since September 2016.
However, many Canadian licensed producers are not even in the process of making cannabis oil, simply due to the fact that many are not yet permitted to sell oils.
Here are some of the statistics recorded for several previous fiscal quarters:
Aprhia (TSX: APH) (OTC: APHQF):
- For Q4, it reported that oils represented 31.7% of sales
- In Q3, oils represented 25.6% of sales
- Aphria held inventory of 1091 liters of oil valued at C$682K on May 31
Aurora Cannabis (TSX: ACB) (OTC: ACBFF):
- Launched its oils in April, didn’t break out in sales
- Their oils are representing approximately 26% of their total sales
CanniMed Therapeutics (TSX: CMED) (OTC: CMMDF):
- In FY17-Q3 oils represented approximately 55% of sales
- Oil sales accounted for 78.6% of the growth in Q3 sales over Q2’s
- Sold 1114 liters during Q3, an increase of 208% from a year ago, while dried cannabis grams rose by 42%
CannTrust (CSE: TRST) (OTC: CNTTF):
- First sold oils in August 2016
- Oil sales, at C$2.39mm, represented almost 53% of overall sales in Q2
- Oil sales increased from C$1.05mm in the prior quarter, driving 89% of the overall quarterly increase
Canopy Growth (TSX: WEED) (OTC: TWMJF):
- Oil sales were 19% of revenue or approximately C$3.02mm in FY18-Q1
- Reported 6.5mm grams of dried cannabis awaiting conversion and 2683 liters of oil in inventory
- Canopy Growth has recently brought online a massive oil extractor
MedReleaf (TSX: LEAF) (OTC: MEDFF):
- MedReleaf began selling oils in November 2016
- Sales of C$1.50mm represented just 14.4% of sales in FY18-Q1
- Cannabis oil represented 23% of overall June sales
Cannabis oil production status update
It is important to keep in mind that Canadian LP’s can produce only a certain amount of cannabis oil given the amount of flower they have.
However, the number of licensed cannabis producers in Canada is growing at a remarkable pace, and new LP’s are getting approved every month.
Many cannabis companies are adjusting their strategies to include mounting consumer demand for oils. Here you may read some of their recent attempts at doing so:
ABcann Global (OTCQB: ABCCF) (TSX.V: ABCN)
One of Canada’s oldest medical cannabis producers is well equipped when it comes to production capacities.
ABcann owns a fully operational Vanluven Facility which produces 1,000 kg of oil annually.
One of the most impressive feats ABcann has reached up until now is that ABcann’s yield per square foot is 100 percent over the industry average.
All that, including the soon-to-be Kimmett facility, an industry-leading, purpose-built, cannabis facility, make ABcann a very strong player on the market.
While working on the pharmaceutical cannabis, ABcann has released CBD-Med in August — one of Canada’s highest legal CBD:THC products available on the market.
Emblem Cannabis, Inc. (OTC: EMMBF) (TSX-V: EMC.V)
Emblem Cannabis got their license to sell cannabis oils this month, meaning that they still have no data or statistics about their oil sales.
Around this time last year, they were granted a license for the production of cannabis extracts, meaning they are moving up quite fast in the industry.
Once their oils are on the market, they plan on offering a wide selection of high THC oils, high CBD oils, and oils made from strains with both CBD and THC content.
Even though they sell dried cannabis flower on their website, they believe cannabis oils provide a level of consistency and dosage accuracy that cannot be achieved by smoking dried flower.
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) (TSX-V: EMH.V)
Emerald Health is already offering eight oils with varying levels of THC, THCA, CBD, and THC to CBD ratios.
Their newest products CBD-25 and CBD-50 are medical cannabis oils containing approximately 25 milligrams and 50 mg of CBD per milliliter.
Emerald Health Botanicals is licensed to produce and sell both dried medical cannabis flower and medical cannabis oil in Canada, putting them in a very good place on the market.
They are currently working out of an indoor facility in Victoria, BC, and they are planning a 32-acre property in Metro Vancouver.
Those 2 facilities must not suffice their needs, as they are working on a joint venture with Village Farms that has a 25-acre greenhouse complex in Delta, BC.
OrganiGram Holdings, Inc. (OTC: OGRMF) (TSX-V: OGI.V)
Just several months ago, in June, OrganiGram was granted its license to produce both cannabis oil and flower.
Several days later, OrganiGram released Shubie, a pure CBD edible oil, an ethanol-extracted cannabis oil formulated in an organic sunflower oil base.
This 50ml bottle of Shubie can hold up to 23.7 mg/ml of CBD and 1.39 mg/ml of THC.
Another major victory for Organigram came just days ago, when the New Brunswick based company secured its place as one of 2 suppliers for the province’s recreational market.
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