Gross sales of adult-use marijuana in Maine have already set a brand new annual report within the first 11 month of 2023, with almost $200 million price of authorized hashish merchandise offered in the course of the yr, in accordance with the state’s Workplace of Hashish Coverage (OCP).
Via November, says the workplace’s web site, $197,561,133.53 price of leisure merchandise have been offered over 3,434,477 transactions—315,978 of which occurred final month. The common worth per gram of flower for the calendar yr by November stands at $7.81 per gram, or about $27.34 per eighth. November itself noticed costs barely decrease than the yr common, at $7.52 per gram.
Maine Workplace of Hashish Coverage
“Usable hashish”—or marijuana flower—continued to steer the market in November, forward of focus, infused merchandise and vegetation, in accordance with state data.
The roughly $200 million in authorized leisure hashish offered by November is already almost $40 million greater than was offered in all of 2022, according to Maine Public Radio.
John Hudak, director of OCP, instructed the outlet that whereas declining marijuana costs over time “are interesting to the buyer,” they will additionally “actually make it tougher for companies to function. And we’re beginning to see that.”
Gross sales have steadily declined since August, when Maine set a fourth consecutive month-to-month report for adult-use marijuana exercise.
Authorized retail gross sales of marijuana to adults within the state started in 2020, 4 years after voters accredited the coverage change.
In August, Gov. Janet Mills (D) signed a invoice into legislation to permit licensed marijuana companies to take state tax deductions as a partial workaround to the Inner Income Service (IRS) code often known as 280E that prohibits such deductions on the federal stage.
The legislature this yr additionally handed quite a few different hashish reform measures, together with payments championed by a GOP freshman lawmaker, who beforehand labored as a marijuana activist, to guard gun rights for hashish customers and enhance the variety of vegetation that adults can develop for private use.
Extra just lately, the Metropolis Council in Portland, the state’s largest metropolis, voted in October to deprioritize the native enforcement of legal guidelines towards psychedelic vegetation and fungi, adopting a decision that emphasizes treating the use and possession of all managed substances as a public well being matter.
Photograph courtesy of Chris Wallis // Aspect Pocket Photographs.