Think Legal Cannabis’s Too Expensive? Give it a Few Years

Article by The Leaf News

Think legal weed's too expensive? Give it a few years Shoppers examine legal cannabis prices at the Meta Cannabis Supply Co. store in Opaskwayak, Manitoba. (Andre Brandt/Winnipeg Free Press)

In the immediate wake of legalization, the narrative that “legal cannabis is more expensive than black market cannabis” took hold. Even Newsweek wrote about it, so it must be true.

A closer look at marijuana prices posted online shows the difference in average prices between legal and illegal weed varies widely, especially by region. Some legal cannabis can even be cheaper than some black market stuff, given wide ranges in prices and quality across both markets.

Data provided to The Leaf News by cannabis data firm CannStandard shows a gram of black market marijuana cost an average of $10.77 across 55 illegal online Canadian dispensaries, as measured before legalization on October 10.

In comparison, CannStandard data shows the post-legalization average price for a legal gram ranges from $7.96 across all listings on Quebec’s SQDC website to $11.81 at the government weed store in New Brunswick — or even as high as $14.01 in Yukon. (Those measurements were taken November 9, about three weeks after legalization.)

“I think, on average, legal prices are better,” says CannStandard director and analyst Brad Martin.

“I think they’re even better in the medical markets. With that being said, I can find areas of way lower prices in the illegal markets. You can buy $2 and $3 grams from some online dispensaries.”

(The wider range of prices at illegal online dispensaries, points out Martin, means the average price across all products could be higher than the prices most frequently paid for popular products.)

Regardless of whether you feel legal cannabis is cheap or expensive right now, odds are it’ll only get cheaper. A new report from U.S. firms Arcview Market Research and BDS Analytics suggests that’s exactly what will happen to Canadian cannabis prices over the next few years.

Read the full article here.

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