The Canada Cannabis Spot Index (CCSI) was assessed at C$5.86 per gram this week, up 1.5% from last week’s C$5.77 per gram. This week’s price equates to US$2,107 per pound at the current exchange rate.
Statistics Canada recently released retail sales data for December 2020. December sales reached C$298.4M, up C$37.4M from November. Total 2020 legal cannabis sales in Canada amounted to C$2.6B, up C$1.43B or 120% from 2019. The number of retailers open for business increased by 701 to reach 1,369 by the end of 2020, even with difficulties due to COVID-19.
On the provincial level, Ontario’s sales persisted in expanding at an exponential rate in December, while revenues in the other three major provinces continued their linear growth. Average daily sales in Ontario reached C$3M in December 2020; Cannabis Benchmarks expect them to grow to C$4.8M per day by the end of 2021.
With full year data for 2020, Cannabis Benchmarks revised their 2021 sales forecast higher. Cannabis Benchmarks now projects sales to exceed C$4.1B this year as licensed stores proliferate, cannabis 2.0 products continue to develop, and the legal market becomes more price competitive with illegal sellers.