Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
The Canada Cannabis Spot Index was assessed at C$6.05 per gram this week, down 2.4% from last week’s C$6.20 per gram. This week’s price equates to US$2,140 per pound at the current exchange rate.
This week, Cannabis Benchmarks focused on price data contained in the Ontario Cannabis Store’s (OCS) recent Q2 Cannabis Insights report, which covers the period from July through September 2020.
The report shows that legal cannabis prices are increasingly undercutting those of illegal sellers as the province’s industry grows. Store counts increased to 178, from 100, during the period.
Meanwhile, the price of dried flower sold through the OCS online store dropped 9% to C$6.41 per gram, tax included. The average price of dried flower on illegal mail order marijuana websites rose slightly in Q2 to C$7.98 per gram. Legal flower prices first fell below illegal ones in the prior quarter, and the discount for legal product grew in the most recent period.
The OCS report emphasizes positive trends for the legal cannabis industry are emerging and being cemented as the regulated market develops.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
