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A look at the supply dynamics for Cannabis 2.0 products

The CCSI was assessed at C$5.77 per gram this week, down by 0.8% from last week’s C$5.82 per gram. This week’s price equates to US$2,079 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 examines supply and demand dynamics for cannabis 2.0 products in Canada’s legal market, specifically those for edibles and extracts, the two largest product categories within cannabis 2.0. Health Canada has published monthly data for production, sales, and inventory of packaged units for those two product types from October 2019, when they began to be sold, through November 2020.

For edibles, production has increased at a greater rate than sales, leading to excess going into inventory at the federal, provincial, or retail level. The current inventory of edibles sits at 14M packaged units, or about 8.7 months worth of supply at November 2020’s consumption rate.

Unsold inventory of extracts has not grown as quickly as edibles, but still sits at 10.4M packaged units, or roughly seven months worth of supply at November’s consumption rate.

Additionally, for both product categories, Cannabis Benchmarks observed excess inventory – which we dubbed “unaccounted” – that did not fit with reported supply and demand figures. The fate of the “unaccounted” inventory is not clear, but if it is going into storage, the inventory overhangs reported above may be even larger.

Source: Canada Cannabis Spot IndexCannabis Benchmarks

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