Photo by Isaac Smith on Unsplash
The Oregon Liquor Control Commission (OLCC) recently released sales data for March 2021. According to OLCC, licensed retailers generated over $109.3 million in revenue last month, a new record for monthly sales in the state’s market and up by 22.9% from over $88.9 million tallied in February. March 2021’s sales are up by 28.9% year-over-year, from over $84.8 million in the same month in 2020.
As we have remarked upon in regard to most state-legal U.S. cannabis markets, a notable jump in sales from February to March has come to be expected in any given year; in 2020, sales in Oregon rose by almost 22% in the same period, comparable to this year’s March spike. March 2021’s annual growth rate is up from February’s, but still represents a significant decrease from the almost 46% year-over-year increase in sales documented in January 2021; additionally, it is more comparable to the 20% – 25% annual increases in monthly sales that were observed consistently prior to the COVID-19 pandemic.
In March, sales revenue generated by adult-use consumers rose to over $99.6 million, up 22.5% from over $81.3 million in February. Sales to patients also increased in March, to over $9.6 million, from almost $7.6 million the previous month.
Month-over-month changes in retail sales revenue for the OLCC’s product categories are as follows: Revenue from sales of “usable marijuana” (the OLCC’s term for flower, trim, and pre-rolls) climbed 21.6%, from over $49.6 million in February to over $60.3 million in March. Usable marijuana products made up 55.2% of all sales in March, compared to 55.8% in February.
Concentrates and extracts generated over $27.8 million in March, up 19.8% from over $23.2 million in retail revenue in February. Concentrates and extracts constituted 25.5% of sales in March, compared to 26.1% in February.
Finally, sales revenue from edibles and tinctures increased in March as well, to over $11.3 million, up 24.2% from over $9.1 million in January. Edibles and tinctures accounted for 10.4% of total sales in March, compared to 10.3% in February.
Monthly harvest figures ticked upward in March. The wet weight of all plants harvested in Oregon expanded by 7.7% from 232,972 pounds in February to 250,962 in March. March 2021’s harvest wet weight is up 32.3% from 189,669 pounds brought in by licensed growers in March 2020, indicating the notable expansion in non-outdoor production noted in recent months has continued to persist.