Massachusetts hashish dispensaries set a brand new annual gross sales file in 2023 at $1.56 billion, in response to information from the Hashish Management Fee (CCC) outlined by Boston 25 News.
The yr was capped off with the trade’s most profitable month but after licensed retailers offered $140.1 million value of adult-use hashish merchandise in December, breaking the earlier month-to-month gross sales file from August 2023. Regulators stated the state is monitoring 338 dispensaries and 21 hashish supply firms. In the end, annual hashish gross sales elevated final yr by $78 million, or about 5%.
Regardless of the positive factors final yr, the Massachusetts hashish trade skilled a tumultuous 2023 following the sudden removing of CCC Chair Shannon O’Brien in September — who in flip sued the state treasurer over the choice. Then two extra prime CCC officers have been suspended in December, which despatched the company into additional disarray and prompted lawmakers to name for an investigation into the company.
CCC Appearing Chair Ava Concepcion stated within the report that the state’s hashish trade is “nonetheless a maturing market.”
“This continued development confirms that Massachusetts’ regulated marijuana trade remains to be a maturing market,” stated the appearing CCC Chair Ava Concepcion.
“As extra retailers and supply licensees come on-line, flower costs begin to stabilize, and the stigma surrounding hashish slowly dissipates — authorized, examined merchandise have gotten extra accessible, inexpensive, and approachable than ever earlier than, and that’s mirrored within the a number of gross sales information licensees broke in 2023.” — Concepcion, by way of Boston 25 Information
Massachusetts voters accredited hashish legalization in 2016 and the state’s adult-use trade was launched in 2018. Gross sales have continued to develop every year and the state is on observe to surpass greater than $6 billion in whole adult-use hashish gross sales someday this yr.
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