Prices for cannabis are on the rise. The availability of weed flower is tightening further in 2024 as many cultivation operations either cut back or halt production due to increasing losses. This decreased supply is expected to push prices even higher. Consequently, higher prices are discouraging some consumers from making purchases, which in turn is amplifying the demand for discounted cannabis options in various regions.
The average cost of dried weed flower in October 2023 was $1.10 per gram, reflecting a 6.8% increase from September’s average of $1.03 per gram. Recently harvested flower with THC levels over 20% saw its price rise from $1.04 per gram at the end of last year to $1.32 per gram by April, marking a total increase of 27%.
As cannabis prices escalate, consumers are increasingly looking for more affordable alternatives such as lower THC flower, online dispensaries for better deals, or different types of products.
Table of Contents
Key Takeaways:
- The average price of dried weed flower in October 2023 was $1.10 per gram, an increase of 6.8% from September.
- The price of recently harvested flower with 20%+ THC rose from $1.04 per gram to $1.32 per gram by April.
- As flower prices rise, consumers are seeking cheaper options, including lower THC varieties and online dispensaries.
Canadian Weed Market General Trends
A report from Brightfield Group anticipates that Canada’s weed market will double over the next five years. The report highlights that expanding retail access and easing regulations will drive this growth.
Brightfield Group estimates that Canada’s weed market will grow at an annual rate of 10%, reaching $8.8 billion in five years, primarily fueled by higher sales of edibles and vape products.
Bethany Gomez, managing director of Brightfield Group, remarked that despite robust market growth in 2021, there is still significant potential for expansion, particularly with improved retail access.
| Year | Forecast Total Sales |
| 2020 | $3.2B |
| 2021 | $4.4B |
| 2022 | $5.5B |
| 2023 | $6.4B |
| 2024 | $7.2B |
| 2025 | $7.9B |
| 2026 | $8.5B |
| 2027 | $8.8B |
Overview of the Flower Market in a Canadian Weed Store
Despite the expected rise in weed sales, challenges persist within the weed flower market. While weed flower remains the top-selling product, its market share is gradually declining as alternative categories gain popularity. Wholesale prices have steadied, although some provinces have seen unexpected increases.
The average price for dried weed flower in October 2023 was $1.10 per gram, a 6.8% increase from the previous month. Year-over-year price changes are even more pronounced.
Provinces Experiencing Price Hikes by THC Level on Newly Harvested Flower
Prices for flowers in Canada vary between newly harvested and aged products. The price increase is driven by a quicker turnover of recently harvested flowers, with their average age dropping to 65 days in April. Meanwhile, prices for aged flowers have remained stagnant, averaging $0.69 per gram in April, a slight decline from the year-end price of $0.70 per gram.
- 30%+ THC: The average price for freshly harvested flower rose by 2.7%, from $1.81 per gram in March to $1.86 in April.
- 25-30% THC: Sold at a weighted average price of $1.34 per gram, a 12.6% increase from the March price of $1.19 per gram.
- 20-25% THC: Averaged $0.95 per gram, an 11.2% decrease from the March average of $1.07 per gram. The weed Commodity Exchange (CCX) anticipates a recovery in May with prices expected to rise by 12.6% to $1.07 per gram.
- 15-20% THC: Sold at an average price of $0.69 per gram in April, a 23.3% decline from March’s price of $0.90 per gram. However, CCX expects a recovery in May with a 13.0% increase to $0.78 per gram.
| THC Level | British Columbia | Alberta | Ontario | Quebec | Rest of Canada |
| 30%+ | $1.48 | $1.56 | $1.63 | $1.95 | $2.23 |
| 25%-30% | $1.27 | $1.30 | $1.08 | $1.19 | $0.88 |
| 20%-25% | $1.09 | $0.99 | $0.98 | $0.70 | $0.67 |
| 20%-15% | – | $1.00 | $0.78 | $0.46 | $0.67 |
Factors Influencing Price Increases
As the weed market continues to grow in 2024, several factors affect fluctuations in weed flower prices. Market dynamics and regulatory conditions are closely linked to these factors.
Supply and Demand
The yields from cultivation significantly affect the amount of weed available in the market, influenced by weather conditions, pests, and diseases. Seasonal variations also impact production levels, with outdoor cannabis cultivation peaking during late summer and early fall, leading to increased supply and potentially lower prices.
Consumer preferences can change due to trends, disposable income shifts, and evolving views on cannabis. A rise in demand for cannabis products can increase prices, particularly if supply cannot keep up. Conversely, a decline in demand, possibly due to economic downturns or shifts toward alternative products, can lead to price reductions.
Product Diversification
The weed market has diversified significantly, with consumers expressing interest in a wide range of products beyond traditional recreational cannabis flower. These include edibles, vape pens, pre-rolls, tinctures, and concentrates. The growing demand for these varied products can affect flower prices.
Technological Integration
The emergence of online shopping platforms for cannabis products allows consumers to easily purchase a wide variety of products from home. This convenience can enhance consumption and influence wholesale demand and pricing.
Delivery services have also become increasingly popular, enabling customers to receive cannabis products at their doorsteps. The convenience of these services can boost demand, particularly in areas where physical dispensaries are less accessible, thus affecting pricing through increased overall market demand.
Price Hike Demands for Discounted Cannabis, Customers Order Online
As weed flower prices rise, consumers are on the lookout for more affordable options. This includes purchasing lower THC flower, exploring online dispensaries for better deals, or considering alternative products.
Online cannabis shops provide various THC flower at different price points per gram. With a broader customer base, online dispensaries can offer lower prices compared to brick-and-mortar stores. They also run weekly promotions to provide customers with alternatives amid the price increases of other weed products.
Below is a selection of discounted cannabis products available at Buy Cheap Weed Canada. Get weed for $99 per ounce or 28.35 grams.
| Product | Flavours | Strain Type | THC (%) | CBD (%) | Price per Ounce |
|---|---|---|---|---|---|
| Jealousy | Diesel, Earthy | Hybrid strain (Balanced) | 24 | 0.2 | $99 |
| Biscotti | Cookies, Diesel | Hybrid (Indica Dominant) | 21 | 0.4 | $95 |
| Purple Truffle | Berry, Citrus, Sweet | Hybrid (Indica-dominant) | 20% | – | $99 |
Conclusion
Experts believe that the weed market will keep expanding, with annual sales on the rise. Despite increasing demand, high-quality weed flower, such as hybrid strains, is becoming pricier. Various factors contribute to these price hikes, prompting customers to seek the best deals or explore alternative products like vape carts. Online dispensaries provide discounted prices on weed flower, allowing consumers to meet their needs without sacrificing quality or settling for unsatisfactory products.
Frequently Asked Questions
Are there any benefits to the price increase for consumers?
While higher weed prices can be a financial strain for consumers, there are some notable advantages:
- Improved Product Quality: Increased prices allow producers to invest in cultivation practices and quality control, leading to better, safer, and more consistent cannabis products.
- Enhanced Regulation: Rising prices can indicate stronger regulatory oversight, ensuring that products meet safety and quality standards, protecting consumers from harmful or substandard goods.
- Economic Benefits: The price increase can boost state revenues through higher taxes, which can be reinvested in public services. It also supports the growth of local cannabis businesses, job creation, and economic development within communities.
How can consumers find discounted weed in light of the price increase?
Consumers can access lower weed prices through promotional sales, bulk buying, loyalty programs, or by shopping at dispensaries known for competitive pricing. Some provinces offer medical cannabis programs that provide lower prices for qualifying patients.
What should consumers look for when purchasing discounted cannabis?
When seeking lower-priced cannabis, consumers should prioritize quality assurance, lab testing results, reputable brands, and dispensaries with positive customer reviews to ensure they receive safe and effective products.
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