StatsCan Reports Price of Pot Falls 6.4 Percent to $7.37 a Gram

Article by CityNews

StatsCan reports price of pot falls 6.4 per cent to $7.37 a gram A man holds holds a handful of cannabis buds at the CannTrust Niagara Greenhouse Facility, in Fenwick, Ont., on June 26, 2018. CannTrust Holdings Inc. says it received a notice of licence suspension from Health Canada, which has been investigating the cannabis company for allegedly cultivating pot in unlicensed rooms. Tijana Martin

Statistics Canada says the average cost of a gram of cannabis fell 6.4 per cent in the third quarter as the legal price fell for the first time, but illicit weed continued to be cheaper.

The government agency says the overall average price of cannabis fell to $7.37 per gram compared with $7.87 per gram in the second quarter.

The move came as the average legal cannabis price dropped to $10.23 per gram, down 3.9 per cent from $10.65 per gram in the second quarter, marking the first legal price cut since legalization in October last year.

The average illegal price of pot continued to fall and slipped to $5.59 per gram in the third quarter, down 5.9 per cent from $5.94 per gram in the second quarter.

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