Inflation may be at multi-decade highs, but marijuana producers are slashing prices to fight for market share
As Canadians deal with the highest inflation in decades and broadening price hikes, one industry remains locked in a lengthy trend of discounting and bargain rates: cannabis.
Statscan measures the prices of dried flower and oil in the legal market, accounting for factors such as product size and levels of tetrahydrocannabinol , the main psychoactive component in cannabis. Retail prices have also fallen sharply for vape pens, pre-rolls, edibles and THC-infused beverages, according to other data providers.
“A lot of public companies are selling at a loss and they’re able to do that because they just keep tapping into the markets to bring in cash and then keep selling,” said Prin Sivalingam, senior vice-president of finance at Aurora Cannabis Inc.The current environment is a far cry from the opening months of legalization, when the retail market was severely underserved and prices were prohibitiveThat changed quickly.
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