The Canada Cannabis Spot Index was assessed at C$5.14 per gram this week, down 0.2% from last week’s C$5.15 per gram. This week’s price equates to US$1,885 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 August 2021, with nationwide legal cannabis sales reaching a new monthly high of C$356.9M.
This is the first month where sales have exceeded the C$350M threshold, which puts the current annual run rate at C$4.3B. August 2021 sales reached C$11.5M per day. This is a significant increase from the previous month, which was at C$10.9M per day. Cannabis Benchmarks have observed seasonality in consumption, with August typically being a strong sales month; hence Cannabis Benchmarks believes September sales might ease from these levels.
Alberta continues to lead the way with its spending habits. Cannabis Benchmarks estimate a typical Alberta cannabis user who purchases cannabis from the legal market spends C$8.20 each month. This is approximately C$1.10 or 15% more than they spent last year.
The strong Alberta spending rate makes sense, as the province boasts the largest retail footprint per capita in Canada. With Ontario picking up the pace on opening retail stores, Cannabis Benchmarks see that Ontario cannabis users are also spending more in licensed stores as they move their buying habits away from the illicit market. Cannabis Benchmarks estimate that the average Ontario cannabis user now spends C$6.80 each month in licensed stores.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- A look at processing licenses issued by Health Canada
- A look at cultivation licenses issued by Health Canada
- Understanding medical versus recreational sales right now
- A look at daily cannabis sales by Province
- How to view dry cannabis sales across Canada
- A look at percentage of legal versus illicit cannabis sales
- A look at the pace of growth for cannabis retail
- A look at monthly cannabis sales in Ontario
- What is the optimal number of cannabis stores in Canada?
- How to compare daily cannabis retail sales by Province
- Understanding the impact of cannabis on alcohol sales in Canada
- A look at cannabis retail store count by Province
- A look at cannabis user statistics in Canada
