The CCSI was assessed at C$5.55 per gram this week, up 0.5% from last week’s C$5.52 per gram. This week’s price equates to US$2,011 per pound at the current exchange rate.
Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
Last week, Statistics Canada released retail sales data for April 2021, with nationwide legal cannabis sales reaching a new monthly high of C$309.7M. This is the first month where sales have exceeded the C$300M threshold, which marks a major milestone for the industry.
Instead of just looking at the provincial sales outright, Cannabis Benchmarks have broken down the number to calculate the average monthly sales per cannabis user.
Each province has a different usage rate that is estimated by Statistics Canada through a quarterly survey. For the following analysis, Cannabis Benchmarks applied the appropriate provincial usage rate.
As seen, the legal market spending rate is increasing for almost every province. This fits the story of lower prices and more accessibility to brick-and-mortar stores.
Alberta is leading the way with its spending habits. A typical Alberta cannabis user, who purchases cannabis from the legal channel, spends C$6.40 each month. This is approximately C$1.80 or 40% more than they spent last year.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks