Understanding cannabis sales growth in June and July in Canada

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Each week, Business of Cannabis delivers a weekly series of insights from our partners at Cannabis Benchmarks®.

The Canada Cannabis Spot Index (CCSI) was assessed at C$6.18 per gram this week, up 0.8% from last week’s C$6.13 per gram. This week’s price equates to US$2,108 per pound at the current exchange rate.

Statistics Canada recently released retail sales data for July 2020, which showed explosive sales growth. July’s revenues reached C$231M, up over C$30 from June, the largest monthly increase since the opening of the legal market almost two years ago.

Cannabis Benchmarks attributes the elevated sales to higher summer demand, expansion of retail outlets in key provinces, more higher value sales opportunities with cannabis 2.0 products and consumers switching from the illegal to the legal market. Month-over-month sales increases varied by province, with Ontario seeing the largest rise of the major provinces.

Source: Canada Cannabis Spot Index, Cannabis Benchmarks

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