Europe Says Thanks But We’ll Do It Ourselves – Canada Leads In Raw Cannabis Exports, Not Oil
Canada’s dried flower exports have seen impressive growth, doubling year-over-year in 3Q24, with the sector hitting record levels in October. According to Pablo Zuanic, senior analyst at Zuanic & Associates, “The strong growth in dried flower exports signals a thriving international market, with Germany emerging as a key driver.”
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Record-Breaking October And Strong 3Q Growth
In October 2024, Canadian dried flower exports reached an all-time high of $20.18 million, positioning Canada’s export market to surpass $187.5 million by the end of 2024, compared to $120 million in 2023 and $96 million in 2022.
For 3Q24, exports totaled C$69 million, a 106% year-over-year increase and a 19% quarter-over-quarter rise. Zuanic forecasts that Q4 2024 will see further growth, potentially reaching C$85 million, a year-over-year jump of 87%.
Germany And Australia Lead Export Growth
While Australia remains the largest importer of Canadian dried flowers, Germany is rapidly gaining ground.
In 3Q24, Germany accounted for 26% of total Canadian dried flower exports, a significant increase from 28% in the previous year. Notably,