The Canada Cannabis Spot Index was assessed at C$5.84 per gram this week, down 1.4% from last week’s C$5.93 per gram. This week’s price equates to US$2,102 per pound at the current exchange rate.
The Ontario Cannabis Store (OCS) last week released their Q3 Cannabis Insights report, covering the period from October through December 2020. In today’s Cannabis Benchmarks CCSI report, we focus on price data contained in the OCS’s report.
Along with a growing retail footprint that reached 324 stores in Ontario by the end of the period (up 298 from a year prior) the price of dried flower on the OCS online store continued to decline, falling further below the price of cannabis sold through illegal mail-order marijuana (MoM) websites.
The average price of legal dried flower on the OCS online store, including tax, was C$6.24 per gram, compared to C$7.67 per gram on illegal MoM websites in the period under discussion.
Lower prices have helped legal sellers build market share, with the OCS report stating 40% of all cannabis sales in the province are now being made through legal channels.
Overall, the OCS report once again emphasizes that positive trends for the legal cannabis industry are emerging and being cemented as the market develops.