Why are Michigan Wholesale Cannabis Prices Continuing to Decline?
The Michigan Marijuana Regulatory Agency (MRA) recently issued its October 2021 report detailing sales, licensing, and production data in the state’s medical and adult use cannabis markets. Overall, Michigan’s medical and adult use sales were $163.5 million in October, up 1.4% from the September figure of $161.4 million. This month’s gain in sales reverses the
Arizona Adult-Use Marijuana Sales Continue to Lag Medical Patient Sales Numbers
The Arizona Department of Revenue (ADOR) recently published cannabis tax collection information for September. Arizona’s tax collection history dates back to January 2021, when adult-use sales commenced. ADOR also reported medical cannabis sales for September. Arizona total sales, adult-use and medical, reached $113.3 million in September. Adult-use sales were $55.7 million and medical sales were
How the Consumer Price Index Impacts the Cannabis Industry
The Consumer Price Index (CPI) for all items jumped 0.9% in October with significant increases noted in the energy and energy services (utilities) sectors, food prices, and new and used car prices. Energy prices rose 4.8% in October with gasoline up 6.1%, fuel oil up 12.3%, and electricity up 1.8% on the month. Ex-food and
Over 34% of Cannabis Sales in Illinois Going to Out-Of-State Customers
The Illinois Department of Financial and Professional Regulation (IDFPR) published adult use sales figures for October 2021 this week. Adult use retailers sold over $123 million in the month of October, a 1.4% increase over September 2021’s sales. Illinois residents represented $81.2 million, or 65.8%, of total sales, while out-of-state buyers purchased $42.2 million worth
Ohio Retail Cannabis Prices Driving Patients Across State Lines
While Michigan has undergone a price rout in 2021, with wholesale flower prices falling nearly $500 per pound, the state is virtually guaranteed to attract business from neighboring Ohio where medical cannabis is legal, but prices are significantly higher. Under Michigan law, licensed dispensaries are permitted to sell to registered patients from other states with
Cannabis Demand in Massachusetts Remains Elevated While Legalization Lags in Neighboring States
The Massachusetts Cannabis Control Commission (CCC) released adult-use market data for September 2021 recently. September sales were $118,994,054, down 5.4% from the August sales figure of $125,843,930. September marked the second month in a row of lower sales, although the August drop in sales was likely due July having five weekends, when sales typically go
The Arizona Department of Revenue (ADOR) recently published August cannabis sales and tax collection data. Adult use sales commenced in January 2021 and ADOR provides adult use and medical sales estimates from that point. The table below shows adult use and medical sales from January 2021 through August 2021, as well as total monthly sales.
Cannabis Sales in Nevada Stabilize as Tourism Numbers Increase
The Nevada Department of Taxation (NDOT) recently released sales and tax data from the state’s legal cannabis market for July 2021. Total retail sales moved higher after falling in May and June. Retail sales spiked sharply at the end of Q1 2021, jumping 32.6%, as Clark County started dropping COVID restrictions and tourism picked up
How Can Oregon Curb the Impact of Cannabis Oversupply and Illegal Grows?
The Oregon Liquor and Cannabis Commission (OLCC) met on September 23, 2021. Commissioners and staff held an in-depth discussion of current market conditions, specifically the illicit market and its deleterious effects on the state’s legal system. One speaker asserted that if the illicit market is not met with more police resources, it will destroy the
Massachusetts Retail Cannabis Sales on Track for Record Performance
The Massachusetts Cannabis Control Commission recently released adult-use market data for August 2021. August sales, at $125,843,894, were down 1% from July’s $127,113,019. As we have noted in regard to other states, July contained five weekends, when sales typically spike, so the small downturn from July to August suggests that the steady growth Massachusetts’ adult-use