Colorado saw an increase in its marijuana sales from February to March, but the figure is still lower than March 2021, causing concern for some in the industry.
The marijuana industry brought in $162.5 million in revenue in March, $17.2 million, or about 12%, more than February.
But this total is $44.6 million less than the state saw in March 2021, a 21.5% decrease in revenue. March 2022’s total is the most revenue the industry has seen since December, according to Department of Revenue data.
Revenue for March 2022 was slightly higher than March 2020’s total of $161 million.
March 2022 still has the second highest sales volume the state has seen in the month of March since recreational marijuana became legal in 2014.
Sales of medical marijuana were down 43.3% in March compared to the same month in 2021. Recreational sales were down 16.3% from 2021.
The Marijuana Industry Group, which calls itself the oldest and largest trade association for licensed cannabis businesses, said in a release that HB-1317 has made it increasingly difficult for medical patients to access medical marijuana treatment. Tiffany Goldman, chairwoman of the Marijuana Industry Group, said that while the bill was “well-intentioned” in its goal of keeping marijuana out of young people’s reach, it has had “devastating consequences” for medical patients. Sales were also down in January and February. [Read more at The Denver Gazette]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
With an historic state budget surplus of $97 billion in hand, California Governor Gavin Newsom on Friday released a revised 2022-23 state budget proposal that included several changes to the state’s cannabis tax and regulatory regime that are meant to prop up California’s struggling legal industry while undermining its resilient black market. Among the proposed…
As New Jersey nears the end of its first month of legal recreational marijuana sales, lawmakers have introduced a series of bills aimed at restricting what types of workers can use cannabis off the job. One measure (S2518), sponsored by Sen. Robert Singer (R-Ocean), would amend the state’s recreational marijuana law to ban cannabis consumption…
In recent years, the Iowa Legislature has opened the door to medical marijuana but kept it closed on attempts to ease restrictions on the possession and use of cannabis. In the current legislative session, a Democratic proposal, Senate Joint Resolution 2003, means to amend the Iowa Constitution to legalize and regulate marijuana from cultivation to use…
The longtime legalization activist took part in a ribbon-cutting at The Woods, his new dispensary, and wants to start his own weed brand. Actor and cannabis legalization activist Woody Harrelson opened a new business in West Hollywood, California, on Friday, May 13: a legal cannabis dispensary that will also include a consumption lounge located in…