Canadians consumed an estimated $5-billion to $6.2-billion worth of cannabis in 2015, a study by Statistics Canada showed on Monday, ahead of the nationwide legalization of recreational use of the drug next year.

Using existing data sources, the study estimated there were 4.9 million medical and recreational users of cannabis aged 15 and older in 2015.

Medical marijuana is already legal in Canada, and the country plans to allow recreational cannabis federally by July 2018, making it the first Group of Seven country to do so.

The study estimated Canadians used 697.5 tonnes of cannabis in 2015. Using a price range of $7.14 to $8.84 per gram, that puts the value of marijuana sales at $5-billion and up.

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TheGlobeAndMail.com via 420Intel.com ~