OrganiGram Holdings Inc T.OGI

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Market Chatter: Cannabis Prices Up 17.3% Post Legalization, With Largest Hikes in NB and Manitoba 2019-04-10 11:44:44 AM ET (MT Newswires)

11:44 AM EDT, 04/10/2019 (MT Newswires) -- Statistics Canada says the average cost of a gram of dried cannabis has gone up by more than 17% since legalization, with consumers in New Brunswick and Manitoba seeing the biggest sticker shock, The Canadian Press is reporting Wednesday. It cited the government agency as saying the average price per gram post-legalization was $8.04, approximately 17.3% higher than the pre-legalization price of $6.85. And it noted Statistics Canada based these conclusions on price quotes gathered using the StatsCannabis crowdsourcing application between Oct. 17, 2018 and March 31. The agency urged caution when interpreting the self-submitted data. According to the report, New Brunswick's pre-legalization cannabis prices were among the lowest in Canada, but the province has seen the biggest post-legalization price surge with an increase of 30.5%, to an average of $8.27 per gram. It said Manitoba saw the second-largest post-legalization price hike with an increase of 27.7% to an average of $9.14 per gram. And it cited Statistics Canada saying the highest average post-legalization price per gram was in the Northwest Territories at roughly $14.45 per gram compared with the lowest price of $6.75 per gram in Quebec.