The Canada Cannabis Spot Index (CCSI) was assessed at C$5.87 per gram this week, down 1.6% from last week’s C$5.96 per gram. This week’s price equates to US$2,095 per pound at the current exchange rate.
After revising our projections for new store openings last week, this week we adjust our projections for full-year sales totals in 2020 and 2021 accordingly. The latest data from Statistics Canada shows October 2020 sales at C$270M, a new monthly record. This level of sales was achieved with 1,225 stores open.
Cannabis Benchmarks expects total 2020 sales to reach C$2.6B if retailers continue to open at the pace we anticipate. With our new store count projection of 2,540 stores open by the end of 2021, we project sales this year will total $3.8B, an increase of 46% from 2020.