Each week, Business of Cannabis delivers a weekly series of insights from our partners at Cannabis Benchmarks®.
The Canada Cannabis Spot Index was assessed at C$6.38 per gram this week, up 3.7% from last week’s C$6.15 per gram. This week’s price equates to US$2,201 per pound at the current exchange rate.
This week Cannabis Benchmarks shares its latest sales and store count projections for Alberta through the end of 2020. Alberta has one of the most robust legal cannabis markets in Canada, with almost half the country’s licensed stores located in the province, although it is home to only 10% of the population. As of the end of August, we count 515 stores open in Alberta, a figure we expect to rise to 600 by the end of this year.
New store openings are slowing as major cities become saturated, as are sales. We expect sales to continue to expand, but at a slowing growth rate as well. Cannabis Benchmarks projects monthly sales will reach C$51.3M in December, with total sales for 2020 in Alberta climbing to C$540M, more than double 2019’s revenue tally.