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Home»Business & Industry»Missouri Marijuana Businesses Have Sold More Than $1 Billion In Cannabis Products In 2023
Business & Industry

Missouri Marijuana Businesses Have Sold More Than $1 Billion In Cannabis Products In 2023

November 21, 2023Updated:December 6, 2024No Comments2 Mins Read
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Missouri marijuana companies have now bought greater than $1 billion value of medical and adult-use hashish merchandise up to now in 2023, based on new numbers launched by the state’s Division of Well being and Senior Providers (DHHS).

Retailers bought about $95.5 million value of hashish merchandise to adults in October, plus one other $17.6 million in medical marijuana. Whereas each these symbolize slight declines from the month earlier than, they introduced the state’s whole quantity of marijuana bought in 2023 to greater than $1.1 billion.

Broadly, adult-use numbers have slowly risen since leisure gross sales started in February, whereas medical marijuana gross sales have steadily dwindled. This yr has additionally seen reductions within the variety of registered medical marijuana sufferers, caregivers and affected person cultivators.

All hashish gross sales since 2020 whole a cumulative $1.7 billion, according to DHHS.

The numbers are approximate, as a result of in contrast to marijuana gross sales information from most different states, Missouri DHHS rounds the figures to the closest $100,000.

Of tax income obtained by the state, lawmakers lately introduced that $17 million shall be used to fund veterans well being, drug remedy and authorized assist.

Missouri’s marijuana system has additionally skilled appreciable turbulence this yr, with tens of 1000’s of merchandise recalled over the allegedly unlawful use of hemp-derived cannabinoids from exterior the state. Regulators final week moved to revoke the enterprise license of Delta Extraction, the corporate on the middle of the controversy.

The incident put state marijuana regulators on their heels concerning practices at product testing labs, which had already come below fireplace earlier within the yr over alleged practices of “lab procuring” as producers sought increased THC efficiency numbers.

One other firm, Retailer Level Administration, which does enterprise as Shangri-La in Columbia, lately settled a dispute with a union over 15 costs of unfair labor practices.

In the meantime, lawmakers earlier this month stated the state’s marijuana regulators overstepped their authority when setting new guidelines on product branding and packaging meant to restrict attraction to youngsters.

Companies final month additionally filed a lawsuit difficult the “stacked” native and county taxes that firms say is unconstitutional.

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Billion Businesses cannabis cannabis industry Cultivation Investments Marijuana marijuana business market growth Missouri Products Regulations Sold
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Previous ArticleMissouri Revokes License of Cannabis Company That Had 63k Products Recalled
Next Article Hawaii AG Unveils Cannabis Legalization Proposal

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