The Canada Cannabis Spot Index was assessed at C$5.57 per gram this week, up 0.8% from last week’s rate of C$5.53 per gram. This week’s price equates to US$2,090 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, Cannabis Benchmarks reviews Canada’s licensed recreational cannabis store count.Â
The number of stores continues to climb steadily across the country, making the legal cannabis system more accessible to consumers. Cannabis Benchmarks’ latest count shows the number of stores open for business reached 2,046 as of the end of May. This is up by 1,143 stores, or 126%, compared to May 2020. As can be seen in the chart above, they expect the trend to continue throughout this year.
Alberta’s store count seems to be plateauing, at least for the moment. British Columbia increased its store count at a steady pace in 2020, but Cannabis Benchmarks expect that growth rate to slow in 2021. Ontario continues to be the biggest driving force for new cannabis retail stores. Ontario had the slowest initial rollout of licensed stores among all provinces, but that has drastically changed since Q2 2020. The speed at which new stores are opening for business is helping to drive strong sales growth in the province, a trend that looks as if it will persist for the foreseeable future.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
