CANADA CANNABIS SPOT INDEX (CCSI)
*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$6.38 per gram this week, down 3.5% from last week’s C$6.61 per gram. This week’s price equates to US$2,209 per pound at the current exchange rate.
This week we examine new retail cannabis sales data reported by Statistics Canada. Last week, November 2019 sales were published. Canadian legal cannabis sales amounted to C$135M in November, up by 5.2% from October’s sales total. Despite showing some overall expansion from the prior month, digging into the numbers it is clear that all the sales growth came from one province – British Columbia (BC).
BC looks to be playing a bit of catch up, and the sales increase blew past our modelled expectations. This is a positive sign for the legal industry, because BC is regarded as one of the provinces with the strongest illicit market presence. The sales growth can be attributed to an exponential expansion in physical stores across the province. BC sales in November 2018 were only C$1.1M; November 2019’s sales of C$19M shows 1,666% growth over the year.
Source: Cannabis Benchmarks
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31 January 2020 Copyright © 2020 New Leaf Data Services, LLC. All rights reserved