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 $79.2 million in July 2020.
Massachusetts also provides average monthly per-ounce prices through June 2021, as depicted in the graph below. Readers should note that the anomalous drop shown in the chart is due to the suspension of adult-use sales that occurred as part of the state’s COVID-19 response, which lasted from late March to late May 2020. After sales resumed, average retail flower prices trended upward for several months, culminating in a high of $403.49 ($6,456 per pound) in late 2020.
The per-ounce retail flower price then tracked below $400 in nearly every month since, with July 2021’s ounce price down at $396.49. Retail ounce prices might be considered steady at this point given the $396 handle has held over several months.
That said, Cannabis Benchmarks Massachusetts Spot Index has been on the decline, raising the possibility of lower prices eventually reaching the retail level.
Massachusetts Per Ounce Cannabis Flower Prices
Source: Massachusetts Cannabis Control Commission
Maine Continues Incremental Monthly Growth
The Maine Office of Marijuana Policy issued July data on the state’s adult-use market. July’s retail sales reached $9,433,860 on 124,004 individual transactions, with an average transaction price of $76.07. At the end of July, adult-use retailers in Maine have racked up $38,678,651 since the opening of the adult-use market in October 2020.
In July, retail sales of “Usable Marijuana” – or flower, pre-rolls, and trim – reached $5,439,134 in the state’s adult-use market, making up 57.7% of total monthly revenue. Concentrates and similar products accounted for 22.8% of sales at $2,156,255. Infused products, at $1,838,47, made up 19.5% of total sales.
As with most newer markets, Maine’s retail sales have increased every month since inception, as depicted in the chart below. Sales have been increasing at a torrid pace this year with July 2021 sales up over 45.8% from the month prior.
Source: Maine Office of Marijuana Policy