With cannabis legalization progressing across the globe, we are starting to see more stats about the multibillion-dollar industry that it encapsulates. While most studies focus on specific product niches and their projected growth, the 2023 Cannabis Global Price Index (23′ CGPI) offered a unique look at the cost of cannabis globally–as well as who has the cheapest and most expensive cannabis.
The index features cannabis price data from 140 cities around the globe. These cities were chosen because they represent the full spectrum of today’s cannabis market. As such, both the top and bottom cannabis-consuming nations were chosen. Additionally, nations representing all levels of legality — from countries with full-on black markets to those with legal cannabis and even those with gray markets — were included.
Pricing per gram data was obtained through crowdsourced city-level polls and adjusted per the data in the UNODC World Drug Report 2022 and the PriceofWeed dashboard.
The 23′ CGPI found that Portland, Oregon has the cheapest average price per gram for legal cannabis in the U.S. at $7/gram. Globally, the cheapest cannabis in illegal markets comes from Bangalore, India at just $6/gram. The lowest price of legal cannabis globally is in Montreal, at $5.80/gram. Here’s the full list of the cheapest cities for cannabis:
Now, don’t start booking flights to Canada based simply on these stats because that doesn’t mean you’ll find $6-$7 grams everywhere you go! These stats are based on average prices in the respective cities and will vary from business to business. In fact, soon enough you may not even have to leave the U.S. to find cheap cannabis. According forecast from the 23′ CGPI made possible by Seasonal Autoregressive Integrated Moving Average (SARIMA) data predicted that U.S. cannabis prices could drop to $5.61/gram by the year 2030.
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Most of us have probably experienced overcharging for cannabis at some point or another, but the average price per gram for cannabis in Tokyo is downright robbery. When in Tokyo, you can expect to spend an average of $33.8/gram! All that and you still run the risk of facing legal troubles as Japan has lofty penalties for all things cannabis.
Tokyo’s cannabis costs are so high, in fact, that they surpass the second-ranked city of Dublin, Ireland by more than $10! Other cities to make the list of the most expensive cities to purchase cannabis include Stavanger and Oslo, Norway, Washington DC, Moscow Russia, and Rishon Letsiyon in Israel. Here’s the full list:
According to the CFAH “Cannabis consumption figures were collected from the World Health Organization.” Using this data, New York claims the title of the largest cannabis-consuming city in the world, with an annual average consumption rate of 62.3 metric tons. Sydney, Australia, takes second place, consuming an average of 45.8 metric tons annually. Overall, the 23′ CGPI discovered that “Countries with strong cannabis consumption rates are 30% more likely to have low gram prices.” Check out the full list:
Legal or illegal, cannabis has proven that it will forever live on. One valuable data point offered by the report’s findings is that legalization often results in the cost of cannabis decreasing. This data also shows that legalization doesn’t always mean the cheapest options — however — prohibition doesn’t always equal the highest prices either.
Another valuable finding from the 23′ CGPI touches on a basic principle of economics — that when supply exceeds demand, consumers see low prices. In the case of cannabis, legalization with a straightforward pathway to cultivation creates an abundance of supply. This is why you see prices as low as $7/gram in Portland, Oregon.
Curious if your city made any of the lists? If so, you can review the full list of data for all 140 cities in the 2023 Cannabis Global Price Index.
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