The Canada Cannabis Spot Index (CCSI) was assessed at C$5.22 per gram this week, up 1.1% from last week’s C$5.17 per gram. This week’s price equates to US$1,884 per pound at the current exchange rate.
Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
Statistics Canada recently released retail sales data for January 2022, showing nationwide legal cannabis sales dropping from the previous month. Sales in January slid to C$347.2M. The month-on-month decrease of C$7.5M, or 2.1%, continues the trend of a flattening market, which commenced last summer. Monthly sales have averaged C$354M over the last six months for which data is available.
Also noteworthy in the latest report is the strong downward revision of the December 2021 sales figure. In last month’s retail sales report, December sales were estimated at C$382.4M. The latest release removed C$27.6M from the December sales estimate, bringing it C$354.8M. Looking at the same data on a per day basis paints a picture of softening demand in Canada’s legal cannabis industry, where sales have been sliding each month from September 2021 (C$11.8M / day) through January 2022 (C$11.2M / day).
Trends in mature, state-legal U.S. cannabis markets have consistently shown that October-November and January-February are typically periods of relatively weaker sales, providing hope that Canadian legal cannabis demand could pick up again come March, when a significant month-on-month boost is frequently observed. In other words, the current Canadian sales slump may be due to a maturing market leaving behind the consistent growth of its early stages and settling into seasonal sales trends.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- Cannabis sales and store insights from BC
- Cannabis store count in Alberta right now
- A look at monthly cannabis sales in Canada
- How to compare annual cumulative cannabis sales in Canada
- Canadian cannabis consumer and patient trends right now
- Daily cannabis spend per consumer in BC now
- Canadian retail store counts right now
- A look at average daily cannabis sales in Canada
- Future growth of cannabis retail in Alberta
- Retail store counts in Canada right now
- The mix of cannabis products in Ontario right now
- How to understand legal and illicit cannabis sales
- Comparing legal and illicit cannabis purchases right now
- A look at cannabis retail store counts in Canada
- A look at daily cannabis retail sales in Canada
- Legacy and legal cannabis sales three years after legalization?
- How to understand cannabis’ impact on alcohol sales in Canada
- Understanding cannabis retail store growth in Canada
- A look at average monthly spend per cannabis consumer
- 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
