Wholesale Market Observer
Information Impacting Global Cannabis Markets
Colorado Marijuana Sales on Track to Surpass 2020 Totals
The Colorado Department of Revenue (CDOR) recently released its monthly Marijuana Sales Report for July 2021. According to that report, demand picked up month-on-month, to levels not seen since early spring 2021. While there’s been a good bit of variability in monthly sales in 2021, the last three months have seen medical sales move forward
Oregon Cannabis Market Oversupply May Be Here to Stay
It is no surprise to Oregonians in the cannabis business that the market is oversupplied. Cannabis Benchmarks has heard this for several weeks running, with growers saying oversupply started affecting prices in Spring 2021. What growers have not mentioned, but may know or suspect, is that oversupply may be a permanent market condition that will
Expansion of Michigan Cannabis Production Drives Wholesale Prices Down
Michigan Has Issued Massive Number of Grow Licenses in 2021 Grown In recently reported on a massive increase in grower licenses in Michigan, such that there has been a four-fold increase in Adult-Use Class C licenses this year compared to December 2020. Class C licenses can be “stacked,” allowing growers to possess multiple licenses, with
California Retail Cannabis Demand Soars as Supply Expands Driving Wholesale Prices Down
California’s Legal Market Continues to See Strong Sales Growth The California Department of Tax and Fee Administration (CDTFA) recently issued data on taxable sales and cannabis tax collections for Q2 2021. Additionally, Q1 2021’s figures were updated and completed after many businesses took advantage of an extension to remit granted by the state in light
Michigan Cannabis Demand and Retail Prices Climb in July
The Michigan Marijuana Regulatory Agency (MRA) released July 2021 cannabis market data recently. Sales numbers show a turn-around in recent declines. Total combined sales, including medical and adult-use, reached $171,070,641 in July, a 13.8% jump from the June figure. Most of the month-on-month gains were in the adult use market, which saw a 17.8% jump
New England States See Increase in Retail Marijuana Purchases
The Massachusetts Cannabis Control Commission released adult-use market data for July 2021 recently. July sales, at $130,773,201, represented a steep 18.6% jump over June sales of $110,267,749. Similar to other markets, Massachusetts’ adult-use sales had plateaued in recent months, a trend that was disrupted in July. Year-on-year, July 2021’s sales are up over 79% from
How Will Increased Cannabis Production Impact Oregon Wholesale Prices?
Oregon Retail Sales Climb Again July 2021 legal cannabis sales in Oregon totaled $103,467,261, a 3.4% increase over June 2021 and a 2.9% increase over July 2020. The statewide sales trend had been down in May and June, after reaching an all-time high for the state’s market in April 2021 at $110,804,219. July 2020 was
New Mexico Preparing for Cannabis Supply Challenges
According to the Santa Fe New Mexican, the Superintendent of New Mexico’s Licensing and Regulation Department, Linda Trujillo, has warned the Economic and Policy Committee of an impending “Krispy Kreme situation,” wherein demand is expected to vastly outstrip supply when the state’s adult-use cannabis market opens. Trujillo also said she expects an 18% plant failure
Illinois Finally Issues Long Overdue Cannabis Licenses
Governor J.B Pritzker’s office announced the issuance of 200 new licenses for craft growers, product manufacturers, and distributors that were originally to be issued last year, according to Capitol News Illinois. The report stated that 67% of the new licenses will go to people of color, helping fulfill part of the social equity program first
Retail Cannabis Sales Cool Off in Major Markets
Data released last week by officials in Colorado and Michigan tell a similar story to recent data out of Oregon: Specifically, that the late spring and early summer have seen demand in legal cannabis markets largely plateau or even decline slightly, albeit at levels elevated significantly compared to prior to the COVID-19 pandemic’s arrival in