How Saskatchewan cannabis prices have plummeted
Global News
Research suggests that legal cannabis pricing in Saskatchewan has dropped low enough to be considered on par with that of illicit cannabis.
Saskatchewan cannabis prices have plummeted since the product became legal in Canada in 2018.
“We’ve probably hit a floor as far as pricing goes right now,” said Jim Southam, president and CEO of Prairie Cannabis Ltd.
Southam called the price change in recent years drastic.
“In the beginning, we were paying double if not closer to triple for some things that we have in our stores today. But that being said, the price can only go so low until people are losing money.”
The formation of the Saskatchewan Weed Pool Cannabis Cooperative, which combined 16 independent retail members, gave independent stores across the province a chance to be competitive against national chain companies.
“Our co-op has partnered with a licensed producer and now we are vertically integrated so that’s helped us bring down pricing costs as well. We can purchase bulk product and package it ourselves,” said Southam.
Though there are no official numbers on street drugs, research suggests that legal cannabis pricing has even become competitive with that of illicit cannabis.
“It looks like prices have come pretty close to converging so I’m not seeing that two to three dollar per gram gap that we were seeing as a minimum when legalization first happened. We are seeing prices that look like they are almost identical,” said Jason Childs, an associate economics professor at the University of Regina.
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