On the one-year anniversary of the opening of the adult-use marijuana market in Connecticut, state officers introduced Wednesday that 2023 noticed greater than a quarter-billion {dollars} ($274 million) in complete gross sales between the leisure and medical hashish markets mixed.
In December, the newest month for which gross sales knowledge is out there, adult-use retailers offered simply over $17.1 million in hashish merchandise, whereas medical marijuana gross sales exceeded $10.3 million. Collectively, the markets’ roughly $27.5 million in gross sales marked the very best single-month gross sales complete to this point recorded, in accordance with the Connecticut Division of Client Safety (DCP).
Final month’s document broke the earlier $25.7 million gross sales document set a month earlier.
“One 12 months in the past, the state of Connecticut opened a wholly new market, creating jobs, alternative, and a protected, regulated method for adults to buy hashish,” DCP Commissioner Bryan T. Cafferelli mentioned in an announcement accompanying the gross sales knowledge. “Since then, many new companies have opened and extra are on the way in which. We’re pleased with the work carried out by our company over the previous 12 months, and we’re wanting ahead to continued development, honest regulation, collaboration with our sister companies, and considerate downside fixing as new challenges current themselves within the years to return.”
As for what merchandise offered in December, 45 p.c of complete gross sales have been from marijuana flower, with vapes accounting for 35 p.c of gross sales and edibles making up about 13 p.c. That’s much less flower than the typical for the 12 months (52 p.c of complete gross sales) and above-average gross sales for vapes and edibles (29 p.c and 11 p.c, respectively).
By way of common product worth, medical merchandise in December averaged $34.94, whereas adult-use merchandise have been dearer—as they’ve been all 12 months—at $37.77.
Retail gross sales within the state’s grownup use market have grown swiftly over the previous 12 months, passing month-to-month medical marijuana gross sales for the primary time in Might.
Gross sales knowledge for the preexisting medical market alone should not accessible previous to January 10, 2023, when adult-use gross sales started, the division mentioned.
Connecticut Division of Client Safety
DCP Drug Management Director Rodrick Marriott, for his half, mentioned the staff “has labored diligently over the previous 12 months to proceed reviewing and approving provisional and last license purposes, in addition to greater than 4,600 new model and product registrations.”
Since adult-use legalization started, “19 new retail and hybrid retail institutions have opened,” together with two below fairness packages, in accordance with DCP’s press release this week. “Two licensed supply companies have additionally opened, offering higher entry to sufferers and shoppers.”
One other 94 provisional licenses have been issued by regulators throughout all license sorts in the course of the first 12 months of operations. These licenses expire after 14 to 24 months, relying on once they have been issued.
Connecticut Division of Client Safety
Whereas a spike in end-of-year gross sales isn’t uncommon in authorized hashish states, one issue behind Connecticut’s document gross sales for final month may very well be a rise in leisure buy limits. As of December 1, shoppers might purchase twice as a lot marijuana in a single transaction as they beforehand might—the equal of half an oz., up from 1 / 4 ounce.
Regulators have mentioned the adjustment was the results of ongoing evaluation of accessible provide and demand within the state.
Medical marijuana sufferers should purchase as much as 5 ounces monthly and aren’t restricted by particular person transaction limits.
Amid final 12 months’s vacation season, Connecticut officers barred alcohol gross sales on Thanksgiving, Christmas and New Yr’s Day however mentioned that marijuana retailers might stay open.
Amid growing business gross sales numbers, a state job drive to check whether or not people who develop marijuana at dwelling ought to be allowed to promote merchandise at hashish occasions has but to be fashioned regardless of a statute requiring it to submit a report this month.