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Cannabis Summary for June 18, 2021

2021-06-18 20:31 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 5.79 to 202.06, while the CSE Composite Index lost 5.92 to 758.60. British Columbians will be soon able to order recreational cannabis straight to their doors, according to the B.C. Ministry of Public Safety and Solicitor General. The ministry will allow licensed retailers to offer direct delivery starting July 15.

The announcement is welcome news for retailers and consumers who have been pushing for greater e-commerce options. Until now, consumers' only option for delivery -- their only legal option, that is -- has been to place an order through the government-run BC Cannabis Store, which would send the package through Canada Post, which would then decline to take the package to consumers' homes and would instead direct them to pick it up from their local post office. While private cannabis retailers have been allowed to sell products on-line since August, 2020, consumers have still had to go to the store to collect their shopping. Home delivery will be far more convenient and should help the industry compete with black market dealers who are happy to make home drop-offs.

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