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Home»Business & Industry»Illinois Marijuana Retailers Set Record For Sales To In-State Residents, Selling Most Individual Cannabis Products In Any Month Since Launch
Business & Industry

Illinois Marijuana Retailers Set Record For Sales To In-State Residents, Selling Most Individual Cannabis Products In Any Month Since Launch

December 5, 2023Updated:December 6, 2024No Comments3 Mins Read
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Illinois Marijuana Retailers Set Record For Sales To In-State Residents, Selling Most Individual Cannabis Products In Any Month Since Launch
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Grownup-use hashish retailers in Illinois bought a document month-to-month quantity of authorized marijuana in November—to Illinoisans, not less than.

When it comes to total gross sales together with these to out-of-state residents, final month noticed the fifth-highest month-to-month determine since shops opened in January 2020.

Whole gross sales of leisure marijuana in Illinois totaled $139.1 million in November, the Illinois Division of Monetary and Skilled Regulation (IDFPR) reported on Monday. Of that, $105.5 million was bought to residents of the state, the company mentioned, and one other $33.6 million was bought by guests. The figures don’t embody taxes.

State-licensed retailers additionally sold extra particular person adult-use marijuana merchandise in November than ever earlier than, shifting 3.77 million gadgets—up from a document 3.74 million gadgets within the prior month.

Medical marijuana gross sales for the state haven’t but been up to date for November. In October, in line with the most recent numbers from the Medical Hashish Affected person Program, dispensaries bought $26.2 million price of medical marijuana merchandise, together with $12.4 million price of dry flower and $13.8 million in concentrates and infused merchandise.

Whereas data point out that Illinois shoppers are paying significantly greater than hashish purchasers in lots of different authorized states, Gov. J.B. Pritzker (D) just lately downplayed the steep costs, noting the trade’s regular development and appreciable gross sales to out-of-state residents.

State officers additionally mentioned in a brand new annual report mentioned that state-legal marijuana gross sales had seen “unprecedented” development in fiscal 12 months 2023, with the opening of 28 new retailers and greater than $1.5 billion in complete retail gross sales.

All advised, the authorized hashish trade introduced in about $451.9 million for the state in fiscal 12 months 2023, which ran from July 1, 2022 to June 30, 2023, in accordance to separate numbers from the Division of Income. As in previous years, Illinois made considerably extra income from hashish than from alcohol, which introduced in about $316.3 million throughout the identical interval.

Over the whole fiscal 12 months, 200 conditional licenses have been issued. In December 2022, the division additionally finalized guidelines for a brand new Social Fairness Standards Lottery, aimed toward prioritizing individuals who have been disproportionately impacted by the conflict on medication. Greater than 2,600 people utilized for 55 new social fairness dispensary licenses.

The overwhelming majority of newly issued licenses have been in Cook dinner County, the state’s most populous.

One other latest report, from the state’s Hashish Regulation Oversight Officer, indicated that range numbers within the marijuana trade are up considerably since adult-use gross sales started—an indication that efforts lately to prioritize social fairness license candidates is making a measurable impression.

When leisure marijuana gross sales started in 2020, the “preliminary companies have been 100% majority White owned and just one majority woman-owned companies,” mentioned the workplace’s range survey report. Since then, measures of range have improved markedly.

Among the many key modifications, Black-owned firms elevated from 0 % to 27 % of the market in the course of the interval from 2020 to 2023, whereas Latino/a or Hispanic-owned firms climbed from 0 % to five %. Asian-owned firms, went from 0 % to three %. Girls-owned companies, in the meantime, now make up 16 % of licensed hashish firms.

Small craft hashish growers, nevertheless, are reportedly struggling regardless of hundreds of thousands in state assist.

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