The Canada Cannabis Spot Index (CCSI) was assessed at C$5.77 per gram this week, down 0.5% from last week’s C$5.80 per gram. This week’s price equates to US$2,066 per pound at the current exchange rate.
Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
This week’s CCSI analyzes data on applications for new cannabis retail licenses in Ontario.
As of the end of January 2021, Cannabis Benchmarks counted 317 active retailers in Ontario, up from only 26 at the same time last year.
Ontario’s initial retail rollout was slow, but gained steam last year despite COVID-19, as the provincial Alcohol and Gaming Commission (AGCO) streamlined the licensing process.
AGCO data on applications currently under consideration by officials shows that as many as 1,350 potential stores could open in Ontario in the relatively near future.
Of course, not all will navigate the licensing process successfully and Cannabis Benchmarks project that roughly 900 new stores will eventually open for business from the current crop of applications.
That would work out to about 75 per month for the rest of 2021, with most applicants seeking to set up shop in the Greater Toronto area.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
