The CCSI was assessed at C$5.51 per gram this week, down 0.7% from last week’s C$5.55 per gram. This week’s price equates to US$1,982 per pound at the current exchange rate.
This week, Cannabis Benchmarks reviews Canadian cannabis usage trends by province and age group.
Statistics Canada conducts a survey on cannabis usage every quarter. Today’s report compares the latest dataset of Q4 2020 versus the same quarter over the previous two years. The exercise is a self-reported survey with no consideration of whether the cannabis consumed originated from the legal or the illicit markets.
The current data shows that, overall, cannabis use continues to grow amongst Canadians. That growth can be attributed to increased accessibility and the growing normalization of cannabis as a recreational drug.
Based on the current survey, Statistics Canada estimates 6.18 million, or 20%, of citizens over the age of 15 use cannabis. The survey also showed that 21% or 1.06 million more people reported using cannabis in Q4 2020 in comparison with Q4 2019.
Cannabis Benchmark projections show growth at a faster pace in 2021, bringing the total cannabis user base to six million users. Cannabis Benchmarks believes this number will increase as Ontario’s retail presence grows quickly.