CANADA CANNABIS SPOT INDEX (CCSI)
The CCSI moved lower by 5.9% to C$6.69 per gram, from last week’s C$7.11 per gram. This week’s price equates to US$2,272 per pound at current exchange rates.
This week Health Canada released their preliminary summary of February sales data from the Cannabis Tracking System. In our analysis below, we focus on sales of non-medical dry cannabis and oil, which have proven to be weaker than anticipated. In the last month many provinces have restated their cannabis revenue projections for 2019, adjusting them downward due to a flourishing black market with lower prices and more product variety.
The reports are labelled as preliminary, therefore data from the past months are adjusted with each release. In the most recent report, January sales for non-medical dry cannabis were restated higher by 8 kg/day, resulting in average daily sales of 179 kg for the month. Preliminary February sales figures came closely in line with both December and January at 178 kg/d.
Also in the most recent report, January sales of cannabis oil were restated higher by 2 litres/d, for an average daily sales of 95 litres. February sales figures came slightly lower than January at 91 litres/d.
Are you a licensed market participant in the U.S. or Canada?
Do you support wholesale market transparency?
Become a member of our Price Contributor Network and receive discounted pricing and exclusive analysis!
Cannabis Benchmarks®, a division of New Leaf Data Services, LLC
19 April 2019 Copyright © 2019 New Leaf Data Services, LLC. All rights reserved