The CCSI was assessed at C$5.31 per gram this week, down 1.7% from last week’s C$5.40 per gram. This week’s price equates to US$1,923 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 May 2021, with nationwide legal cannabis sales reaching a new monthly high of C$313.3M.
This is the second month where sales have exceeded the C$300M threshold, which marks a new baseline for the industry. To correct for the different number of days in each month, we look at average daily sales in the chart below, which shows May 2021 sales reaching C$10.1M per day, slightly lower than April 2021.
Alberta continues to have the highest monthly cannabis sales per user in the legal market. A typical Alberta cannabis user, who purchases cannabis from a legal source, spends C$6.20 each month. This is approximately C$1.40 more than they spent last year. The strong Alberta spending rate makes sense with the largest retail footprint per capita.
Ontario has the second highest spending rate, while British Columbia and Quebec show the lowest spending rate.
If each province had the same monthly spending rate as Alberta, the legal cannabis market would have exceeded C$580M in sales in the month of May 2021, representing roughly 85% of the total estimated cannabis demand in the country.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
