The recently published 2023 Cannabis Global Price Index by CFAH has given us a comprehensive view of the current state of cannabis prices around the world.
By comparing the cost of the drug across 140 cities worldwide, the report sheds light on the disparity in prices between regions where the drug is legal, partially legal, or illegal.
Tokyo, Japan tops the list as the most expensive city to buy cannabis, with a staggering price of $33.8 per gram.
Notably, this figure could be in relation to the drug’s illegal status in Japan.
On the opposite end of the spectrum, Montreal, Canada, where the drug is legal, boasts the lowest global price at $5.9 per gram.
Interestingly, while Portland in the United States offers the cheapest cannabis at $7 per gram, New York emerges as the world’s largest cannabis-consuming city, devouring an impressive 62.3 metric tons annually.
Moreover, in places like Bangalore, India, the price per gram is as low as $6, even though it’s illegal.
In the UK it is the town of Swindon where consumers will find the most expensive cannabis in the country.
One pivotal finding of the report is the effect of legalisation on prices.
On average, legalising cannabis leads to an 11.13% drop in its market price.
Moreover, nations with higher cannabis consumption rates tend to have 30% lower prices per gram.
The report also provides a forecast for the US, predicting a decrease in the price per gram to $5.61 by the year 2030, based on the SARIMA model.
This future trajectory, combined with the current data, underscores the evolving dynamics of the global cannabis industry.
The 2023 Cannabis Global Price Index offers crucial insights into the world of cannabis, highlighting stark differences in prices and consumption rates, the implications of legal status on pricing, and the potential future of the US market.
