Play Video
The margin drop was largely triggered by the strength of the illicit pot market, which still made up 43 per cent of Ontario’s cannabis market last March.Article content The average price for cannabis was $11.78 per gram at the start of 2019, shortly after legalization, but fell to $7.50 per gram in 2021, a November report from Deloitte Canada and cannabis research firms Hifyre and BDSA said.
In the last week alone, Canopy Growth Corp., one of Canada’s most prominent pot companies, said it would lay off 800 workers as part of a transformation plan that will also include the closure of a former Hershey chocolate plant in Smiths Falls, Ont. it took over and the consolidation of some of its cultivation operations.Then, licensed producer SNDL Inc. announced a layoff impacting 85 employees at its Olds, Alberta facility that it said would deliver $9 million in savings.
However, the changes won’t come into effect until later in the year. The OCS said the delay is meant to give it and licensed producers time to consider changes to existing products and their release schedules.
Lol...the government is the worst drug dealer... they cannot even breakeven!
Overpriced just like the LCBO. We are getting rinsed in Ontario.
Why can't the same be done for tobacco? Strange that pot products are allowed to be out in the open, while tobacco has to be hidden from view.
Same stuff at every store... it's dry and when you do find something you like, they don't have it the next time. The system is broken.
Anything that government regulates always goes bust.
Garbage cabbage.
And as for Trudeau’s promise of Billions and Billions of Tax Revenue … 🤡
Illicit market? Say it isn't so!
Only a former small time drug dealer like Doug would understand these complex market dynamics
The one promise JustinTrudeau keeps is so over-regulated by govt, it's a bust.
Hahahahaha. Any bets that many of those stores are operated by the same people who operate the illicit market?
It's going to have to be a big price drop in concentrates if the goal is to compete with legacy market.
increase the mg per package. 10mg is ridiculous and a huge reason the gray market is still so dominant. Why would I buy a 10mg pack for $7 when I can get 250mg $10 on the grey market It is the equivalent of going to the liquor store and only being allowed to buy 5% alcohol
Maybe the Government should lower the prices they charge the stores
The government drug cartel... They can't even get illicit drug distribution right.
Remember when they told us legalization was to end the black market. Then they proceeded to immediately refuse to compete with the pricing?
Lol. Good luck. Legal weed is literally 5x more expensive. And it's poor quality, and the customer service sucks. And they short change you on the weight.
My guy dropped his prices too. Support your guy, not the government.
With all due respect….cannabis industry is a $&k joke….
About time, they need to lower taxes as well. Love the shopping experience at the stores but they price has to make sense. Also the cannabis beverage prices needs to be lowered
The illicit market only survives because the government has implemented high barriers to entry and applies over taxation. Taxation was supposed to offset increased needs in policing and monitoring. Time to reevaluate the system.
Imagine. The Province sets up a bureaucracy for weed like they have for LCBO, and the top heavy 3 figure a year bureaucrats can't figure out why for the life of them, ppl would continue to buy from the grey market. You just cant make this shit up. Smfh.