Pot Prices Drop

marijuana - depositphotos

CBJ — The average cost of a gram of cannabis fell about 6.5% in the third quarter as the legal price fell for the first time, but illicit weed on the streets continued to be cheaper.

The overall average price of cannabis fell to $7.37 per gram compared with $7.87 per gram in the second quarter according to figures gathered by Statistics Canada.

The average legal cannabis price dropped to $10.23 per gram, down 4% 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 6% cent from $5.94 per gram in the second quarter.

Statistics Canada based these conclusions on price quotes gathered using its StatsCannabis crowdsourcing application between July 1 and September 30, 125 of which were deemed plausible. However, the number of responses was limited, which the agency admits could impact on the results.

@CanBizJournal

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