Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
The Canada Cannabis Spot Index was assessed at C$5.94 per gram this week, up 1.3% from last week’s C$5.86 per gram. This week’s price equates to US$2,067 per pound at the current exchange rate.
September 2020 sales data was released recently by Statistics Canada. It shows that sales continue to increase, with September’s revenues totaling C$256M, up C$11.4M from August and up C$133M year-over-year. September’s figures point to an annual run rate of C$3.1B, which solidifies the prospect of retail sales eclipsing C$3B in 2021.
Average daily sales nationwide increased by 8.2% in September, but varied significantly at the provincial level. Ontario led the way with a 20.3% rise in average daily sales to reach C$2.6M. Ontario has consistently been outperforming the other major provinces in daily sales growth.
With the latest data, Cannabis Benchmarks has updated our model and now projects that, in 2021, sales in Ontario alone will eclipse C$1.2B.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
