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Home»Business & Industry»Rhode Island Adult-Use Cannabis Sales Hit Monthly High of $7.11M in September
Business & Industry

Rhode Island Adult-Use Cannabis Sales Hit Monthly High of $7.11M in September

October 24, 2023Updated:December 6, 2024No Comments2 Mins Read
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Rhode Island Adult-Use Cannabis Sales Hit Monthly High of $7.11M in September
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Grownup-use hashish gross sales in Rhode Island reached a brand new month-to-month gross sales report in September, totaling $7.11 million, NBC 10 News experiences. Grownup-use gross sales totals are actually again on monitor to satisfy the state’s annual income projections of $76 million for fiscal yr 2023 after a gradual begin earlier within the yr. 

When the adult-use hashish market launched within the state in December 2022, the state had imposed an promoting ban on hashish dispensaries; nevertheless, that ban was lifted in June and led to an 11% improve in adult-use hashish gross sales that month, the report says.  

Hashish Management Fee Chair Kim Ahern advised NBC 10 Information that whereas she believes permitting promoting is taking part in a job within the gross sales improve, she additionally attributes the expansion to “getting the final message out” a couple of secure and controlled market. 

Rhode Island regulators have but to award 24 retail licenses and as soon as these licenses are energetic, officers anticipate gross sales will improve. In all, the state will permit a complete of 33 adult-use hashish licensees, which each officers and enterprise house owners hope will forestall the trade oversaturation that’s occurred in neighboring Massachusetts. Officers plan to start issuing these licenses subsequent yr.  

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711M AdultUse cannabis cannabis industry Cultivation High hit Investments Island marijuana business market growth Monthly Regulations Rhode Sales September
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