Legalization of CBD Boosts Double-digit Sales Growth for NLC
According to reports from foreign media, the legalization of cannabidiol (CBD) has aided the Newfoundland and Labrador Liquor Corporation (NLC) in achieving double-digit sales growth.
Bruce Keating, CEO of NLC, has stated that despite facing more challenging market conditions in the alcohol industry, cannabis sales are showing a growth trend.
Compared to the same period last year, first-quarter sales of marijuana have increased by 25.6%.
He pointed out that part of the reason can be traced back to the decision to legalize marijuana smoking accessories last autumn.
At the same time, Kiting also pointed out that high inflation is one of the reasons challenging the alcoholic beverage industry market due to its impact on disposable income.
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