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Home»Business & Industry»Connecticut Saw A Record $25 Million Worth Of Marijuana Sold In August, State Officials Report
Business & Industry

Connecticut Saw A Record $25 Million Worth Of Marijuana Sold In August, State Officials Report

September 11, 2023Updated:December 6, 2024No Comments4 Mins Read
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Connecticut broke one other marijuana gross sales report in August, with $25 million value of medical and adult-use hashish purchases, state information reveals.

The Connecticut Division of Client Safety (DCP) reported that leisure marijuana gross sales hit $14 million final month—one other report for the adult-use market—whereas medical marijuana purchases quantity to about $11 million. That mixed $25 million is greater than $2 million above the state’s prior report that was set in June.

That is additionally the eighth month in a row of record-breaking leisure marijuana gross sales since Connecticut’s adult-use program launched in January. On the identical time, the price of leisure hashish has regularly declined because the market opened, with the typical product worth amounting to $39.49 final month.

August marked the fourth consecutive month the place leisure gross sales exceeded medical marijuana purchases. Individuals purchased 354,700 merchandise adult-use hashish merchandise throughout the month, in comparison with 278,395 medical marijuana merchandise.

The division additionally launched information exhibiting the kinds of marijuana objects that buyers are shopping for, with 53 % of gross sales coming from hashish flower, 27 % from vape merchandise and 10 % from edibles.

“The preliminary information doesn’t embrace taxes collected on the level of sale on adult-use transactions and is topic to additional overview by the division,” DCP said. “Medical marijuana sufferers don’t pay taxes on the acquisition of their medication.”

“Adults who select to devour hashish are reminded to take action responsibly, together with storing hashish merchandise of their unique packaging, locked up and out of attain of youngsters and pets,” the division added.

To this point, it seems that Connecticut is experiencing the identical sort of business developments that different states have seen after enacting legalization, with the medical hashish market regularly thinning because the adult-use system matures and expands.

In the meantime, as of July 1, Connecticut adults 21 and older are actually capable of develop their very own marijuana vegetation for private use—one of many newest provisions of the state’s hashish legalization regulation to take impact.

Forward of that regulation turning into efficient, DCP revealed a discover to remind the general public in regards to the coverage change, detailing the principles and inspiring individuals who select to take part to domesticate hashish “responsibly.”

Additionally, Connecticut officers just lately introduced they’re rolling out a brand new mortgage program geared toward supporting social fairness marijuana companies, offering monetary help to assist individuals who’ve been disproportionately impacted by prohibition broaden operations within the authorized business.

Connecticut is much from the one states that noticed record-breaking marijuana gross sales in current months.

—
Marijuana Second is monitoring greater than 1,000 hashish, psychedelics and drug coverage payments in state legislatures and Congress this yr. Patreon supporters pledging at the very least $25/month get entry to our interactive maps, charts and listening to calendar so that they don’t miss any developments.

Study extra about our marijuana invoice tracker and change into a supporter on Patreon to get entry.
—

In Maine, for instance, marijuana gross sales additionally reached a report excessive in August, with practically $22 million value of purchases, in response to new information from the state Workplace of Hashish Coverage (OCP).

Massachusetts retailers have now offered greater than $5 billion in adult-use marijuana because the state’s leisure market launched 5 years in the past, the state reported final week. Gross sales reached $139.3 million in August alone, with the year-to-date whole at $1.05 billion throughout the first eight months of 2023.

In Maryland, officers just lately introduced that the the state broke anther marijuana gross sales report final month, with practically $92 million value of hashish merchandise offered throughout the state’s second month of authorized adult-use gross sales.

Outdoors of the area, Illinois retailers offered $140 million value of leisure marijuana merchandise in July—the strongest gross sales of the yr and second highest month-to-month whole for the state because the adult-use market launched in 2020.

Michigan marijuana gross sales reached one more report excessive in July, with practically $277 million value of hashish offered.

Missouri retailers have been promoting about $4 million value of marijuana per day on common because the state’s adult-use market opened up in February—and the state noticed a report $121.2 million in hashish purchases in June.

Picture courtesy of Philip Steffan.

The submit Connecticut Noticed A Report $25 Million Price Of Marijuana Bought In August, State Officers Report appeared first on Marijuana Second.

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