The October 17th deadline for nationwide marijuana legalization is fast approaching.
As the provinces brace for the sudden introduction of a new industry, the economy is poised to get a huge boost from tourism.
In Quebec, government-run cannabis retailers are also currently under construction. Edibles will not be legal until at least October 2019, but when marijuana-infused foods and drinks finally become available, you can expect an explosion of new restaurants and venues particularly in Montreal, which has one of the most vibrant food scenes on the continent.
Tremendous positive change is on the horizon. But unfortunately for marijuana users, bad news is in store for the short term.
According to Statistics Canada, the price of non-medical marijuana in Quebec is currently approaching a ten-year high of $8.00/gram. The average price for (still illegal) recreational marijuana now sits at over $7.80/gram.
Quebec is also only one of two provinces in which the price of non-medical marijuana is actually rising. Since 2016, the price per gram in Prince Edward Island has risen from $6.55 to $7.26.
New Brunswick is the province that currently has the highest average price for recreational weed – $8.05/gram. Prices in the territories (Yukon, the Northwest, and Nunavut) are even higher – $9.52/gram.
The national average price currently sits at $7.43/gram.
There's no word yet about how exactly legalization with affect prices. Since the government in Quebec (through the Société québécoise du cannabis) will have a monopoly on distribution, it will have total control over prices. Taxes will be significant.
Whether people in Quebec will continue to pay more for weed than the national average after legalization remains to be seen.