Legal marijuana sales in Connecticut set a new record in November, with nearly $25.7 million in total sales for the month. That figure includes $15.4 million in sales to adult consumers—the highest amount since the recreational market opened in January.

Medical marijuana sales, meanwhile, held steady in November at about $10.3 million after months of consistent declines.

All told, state-licensed retailers have reported nearly a quarter of a billion dollars worth of total cannabis sales so far in 2023, according to latest numbers from the Connecticut Department of Consumer Protection.

The adult-use market also saw the purchase of more legal products than ever in November, with more than 400,000 items in total. Sales to registered patients, meanwhile, were roughly flat, at just over 280,000 products.

In terms of products types, cannabis flower has made up more than half (52 percent) the total sales amount for the year, at $128.8 million in total sales. In second place are vape cartridges, at $69 million or 28 percent of sales. After that are infused edibles (10 percent), dabbable extracts (6 percent) and miscellaneous other products (4 percent).

The price of an average product is currently about the same on both the medical marijuana market ($36.99) and the adult-use market ($38.44), according to state numbers. When recreational sales began in January, the average adult product cost nearly $9 more than the average medical product, at $44.61 compared to $35.68.

Data reported by the agency are collected by the state’s seed-to-sale tracking system. Medical marijuana sales figures for before the adult-use market launched, in January 2023, are not available because tracking was previously not required, the state said in its latest release.

One thing to watch in the coming month is how sales numbers change as purchase limits increase for adults. As of December 1, consumers can buy twice as much marijuana in a single transaction as they currently can—the equivalent of a half ounce of marijuana up from a quarter ounce.

Regulators have said the adjustment was the result of ongoing review of available supply and demand in the state.

Medical marijuana patients can purchase up to 5 ounces per month and aren’t restricted by individual transaction limits.

Last month, Connecticut regulators barred alcohol sales on Thanksgiving but said that marijuana retailers could remain open.

Amid increasing commercial sales numbers, a state task force to study whether individuals who grow marijuana at home should be allowed to sell products at cannabis events has yet to be formed despite a statute requiring the task force to submit a report next month.

FDA Weighs New Application To Approve MDMA As First-Ever Psychedelic Medicine For PTSD

Read the full article here

Share.
Leave A Reply

Exit mobile version