Statistics Canada reported rise in Cannabis price since its legalization

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Toronto, Jan 9 (Canadian-Media): Statistics Canada (SC) had reported an increase of more than 17 percent in cannabis price , since it was legalized for recreational use on Oct 17, media reports said.

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SC, the Government of Canada agency, formed in 1971 with its headquarters in Ottawa, with its statistics help better understand Canada's population, resources, economy, society, and its culture.

With the use of an updated version of its crowdsourcing app, SC collected price information prior to legalization on Oct. 17 and compared it to the average price between that day and the end of 2018.  

The two main factors for the rise or pot prices Taxes and lack of competition, as found by the North American affairs manager for the Consumer Choice Centre a consumer advocacy group that monitors regulatory policy around the globe, David Clement, Consumer advocate, said the rising price of the pot was no surprise.

In addition, said Clement, imposition of provincial and federal taxes, plus all the fees and licensing costs in producers are passed on to end users. 

"It costs half a billion a year to enforce the rules and regulations in the Cannabis Act, so in order to generate the revenues to cover that they've implemented fees and licences on licensed producers."

(Reporting by Asha Bajaj)

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