Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
The Canada Cannabis Spot Index (CCSI) was assessed at C$5.96 per gram this week, down 1.9% from last week’s rate of C$6.08 per gram. This week’s price equates to US$2,121 per pound at the current exchange rate.
This week we provide an update on store counts nationwide. As of the end of 2020, Cannabis Benchmarks counted 1,369 licensed retailers across Canada. Store counts grew at an average monthly rate of 6% last year; December’s was higher at 7.3% to close 2020. The consistency gives us confidence that stable expansion of storefronts will continue in 2021.
As shown in the accompanying chart, Cannabis Benchmarks projects the number of licensed retailers in Canada to reach 2,540 by the end of 2021. This would still leave significant room for the legal market’s expansion. In prior reports we have pointed out that Canada will need to see over 4,600 licensed stores open to reach a per capita level between Colorado and Oregon, two of the most mature legal markets in the U.S.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
