Nova Scotia sees 40% drop in legal marijuana prices since 2019

NSLC spokesperson Bev Ware says the average price per gram was slightly higher than $10 when cannabis was first legalized

CITYnews \ Chris Stoodley

Listen to this article

Nova Scotia has seen a 40 per cent drop in legal marijuana prices compared to when it was first legalized in Canada more than three years ago.

Nova Scotia Liquor Corporation (NSLC) spokesperson Bev Ware says the current average gram of marijuana costs around $6.50.

“Which really is quite a change compared to legalization,” she tells CityNews Halifax. “That was what, more than three years ago now — it’s hard to believe. At that point, the average price per gram was just over $10.”

She says the price per gram has dropped by $3.61 since legalization and adds that there are a number of factors contributing to the drop in prices.

“One of the key factors is that we now have a really steady supply of the larger formats, and that would be the 28-gram packages and the larger packs of pre-roll,” she says. “It’s like with any product you buy: if it’s a larger pack, then it carries a lower price per unit.

“In this case, they carry a lower price per gram. They’re very popular with our customers.”

Moreover, she says some suppliers have been reducing their prices while others are adding more “value-price” or lower-price products.

Like the NSLC does with beverages and alcohol, there are three price ranges when it comes to marijuana products: value, core and premium.

“The Nova Scotia cannabis that’s produced does tend to be high quality, very popular with our customers,” Ware says. “In some cases, they do carry a slightly higher price per gram. And Nova Scotians, of course, are willing to pay that premium for the good quality products.

“We see that in the numbers, actually, because Nova Scotia cannabis accounts for close to 21 per cent of all of our cannabis sales.”

It’s a percentage that Ware says has been consistent since the NSLC began selling marijuana products.

In the most recent quarter that ended in early October, cannabis sales at the NSLC accounted for nearly $27 million. Beverage and alcohol sales in the same quarter were $201 million.

“Cannabis is really getting up there very quickly,” she says. “It’s very close to what we sell in Ready to Drink, which would be your ciders and your coolers, that kind of thing. So, it’s grown very quickly.”

She adds that 70 per cent of marijuana product purchases at the NSLC are attributed to loose dried cannabis flowers and pre-rolled products.

Edibles come in at 4 per cent of sales while beverages and extracts each make up 2 per cent.

Out of its 43 suppliers, the NSLC’s primary producers — which must be Canadian and pass some strict regulations — mostly reside in Nova Scotia, New Brunswick, Quebec and Ontario.

Currently, the NSLC also offers more than 540 products which Ware says is quite a change compared to the early months of legalization.

The NSLC also now has 33 cannabis stores across the province, a number that’s nearly triple what the corporation started with at the beginning of legalization.

Ware says the NSLC is looking to expand its network, potentially adding nine more stores by the spring.

Those locations are likely set to be built in areas including Spryfield, Porters Lake and Eastern Passage.