CANADA CANNABIS SPOT INDEX (CCSI)
The CCSI came in at C$6.96 per gram this week, from last week’s C$7.33 per gram. This week’s price equates to US$2,341 per pound at current exchange rates.
Health Canada released the latest Canadian sales data on May 24th through the Cannabis Tracking System program. Non-medical sales continue to grow across Canada with average daily sales reaching 191 kg/day, while medical sales slid further to 54 kg/day. Although these are preliminary estimates, the revisions in sales have been minimal for the past few months. In the recent report, February non-medical sales figures were lowered by 2.3%.
Our expectation is that non-medical sales will pick up significantly in next month’s report with the release of April data, as a result of the opening of Ontario retail stores on April 1st. Ten retail stores were opened on day one, with another 15 added by the end of the month, providing Ontario cannabis consumers with greater access to the legal, regulated market.
From the data we see that non-medical sales are on the rise versus medical sales. As of March, sales to non-medical consumers were 350% of medical sales.
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31 May 2019 Copyright © 2019 New Leaf Data Services, LLC. All rights reserved