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The BDS Analytics Cannabis Retail Price Index (CPI) that tracks sales in the five biggest U.S. legal markets rose in November, largely due to increased prices on edibles, pre-rolled joints and topicals, while retailers benefitted from soaring premiums on CBD.

The BDS CPI for November, which compiles sales from dispensaries in Arizona, California, Colorado, Oregon, and Washington, rose to 101.25, up 2.5 per cent month-over-month and up 1.3 per cent from January 2018. Sales in these states reached US$538.7-million in November, little changed from October but up 34.5 per cent from January, the BDS Analytics report showed.

Total sales in those states reached US$5.7-billion from January to November 2018, it said.

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Many in the cannabis industry look to the more mature market in states where recreational pot was legalized before Canada’s Cannabis Act for indications on consumer demand and best-selling products.

Increased demand for CBD has buoyed edibles prices, with those containing the functional ingredient cannabidiol making up 25 per cent of edible sales in November, up from 17 per cent in January. On average, CBD brings in a 66 per cent premium above non-CBD containing edibles, the data showed.

Data showed the price of flower continued to fall across most states while the average retail price of edibles, pre-rolled joints, and topicals rose by 8 per cent compared with January. In California, more than twice as many pre-rolled joints were sold in November versus January, with an average retail price significantly higher than other states, the BDS report showed.

Concentrates saw the biggest retail price hike at 5.7 per cent in November versus October, though concentrates, flower and vape products showed lower CPI scores than in January 2018. Stiff competition in vape products, one of the fastest growing categories in the industry, fell from the beginning of the year due to abundant supplies, BDS data showed.

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