*The provincial excise taxes vary. Cannabis Benchmarks estimates the population weighted average excise tax for Canada.

**CCSI is inclusive of the estimated Federal & Provincial cannabis excise taxes..

The CCSI was assessed at C$6.08 per gram this week, up 0.4% from last week’s C$6.05 per gram. This week’s price equates to US$2,145 per pound at the current exchange rate.

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Last week, Statistics Canada released retail sales data for October 2020. The trend of steadily-increasing national sales totals continued. October sales finished the month at C$270 million, C$13M higher than September 2020 and up C$140M year-over-year. October’s figures point to an annual run rate of C$3.2 billion. We believe that this number will surely be eclipsed before Q3 2021 ends, due largely to what is anticipated to be a rapid increase in storefronts in Ontario.

Source: Statistics Canada, Cannabis Benchmarks

On an average daily basis, October sales were higher across every major province except for British Columbia. While average daily sales nationwide expanded by 1.7%, sales growth varied significantly at the provincial level. Of the major provinces, Ontario has been consistently outperforming all others in daily sales growth. Ontario led the way with a 4.1% rise in average daily sales, while British Columbia saw a decrease of 0.5%.