Aurora Cannabis Inc. anticipates the legalization of high-margin concentrates and edible marijuana products in only a few short months. In just a matter of two weeks, they have risen to one of the top-selling cannabis brands in Canada. Changes in regulation give the company an opportunity to increase sales of their recreational marijuana even further.
After Canada legalized recreational cannabis October 17, the government is now looking forward to expanding regulation. They plan to accomplish re-evaluations within a year and preferably before the next federal election. Currently, only dried cannabis, capsules and sprays are legally available.
The plan is to include other products like edibles and concentrates like vape pens. Businesses speculate that the government might permit a few or all these products in the coming months.
Aside from being a top-selling brand across within Canada, Aurora also holds an estimated value of thirty percent of sales from the Ontario Cannabis Store. Four of the best-selling dried products in British Columbia also belong to Aurora.
There was a continued shortage of legal cannabis in the initial days of legalization. To remedy this, Aurora is increasing their annual production rate to one hundred fifty thousand kilograms this year. That is more than double their current rate of seventy thousand kilograms. The company also ensures they always have ample supply allotted for medical patients and international markets.
As the demand rises, there might also be an increase in their retail prices because of the shortage. Aurora predicts a decrease in prices as the cost of dried cannabis production falls and the foreseeable additional sale of Aurora Cannabis edibles in the future. In addition to this, restrictions in the regulation limit help them save costs of what could have otherwise been spent on marketing.