No products in the cart.


No products in the cart.

Record December pushes Missouri marijuana sales past $1.3 billion for 2023

Missouri legal retailers reported selling over $1.3 billion worth of medical and adult-use marijuana last year, according to state sales figures.

Missouri Department of Health & Senior Services data shows that adult-use marijuana sales reached approximately $1.04 billion in 2023.

Retailers reported a record $106.5 million in adult-use cannabis sales in December, breaking the previous record of $98.7 million set in July.

Medical cannabis sales for the year were about $302.2 million.

The total is approximately in line with MJBizDaily projections and the business association MoCannTrade.

The 2023 MJBiz Factbook predicted $800 million in recreational sales and $500 million in medical cannabis for a total of $1.3 billion.

The disparity between adult-use and medical suggests that Missouri medical cannabis patients are transitioning more quickly to adult-use dispensaries.

The $16.8 million worth of medical cannabis sold in December is the second-lowest total for the year, after the $16.4 million sold in November.

Medical marijuana sales have steadily declined from a peak of $37 million in January, the last month recreational cannabis was not available.

Cross-border demand continues to play a role in Missouri, which launched adult-use sales in February after voters approved a legalization measure in November 2022.

Retail outlets near bordering Arkansas, Kansas and Oklahoma are seeing steady growth, Mark Hendren, the co-owner of Flora Farms, told KY-3 last month.

Missouri marijuana dispensaries are also seeing customers travel from Illinois, where adult-use cannabis has been available since January 2020 – but is also taxed more heavily, Hendren added.

Missouri is poised to add more retail capacity this year through an additional round of microbusiness licenses.

Source link

Leave A Reply

Your email address will not be published. Required fields are marked *

Related Posts