State officials announced that the combined recreational and medical cannabis market sales in Connecticut will reach more than $274 million dollars in 2023.
Medical marijuana sales surpassed $10 million in December, the latest month for which data is available. Adult-use retailers sold over $17.1 millions of cannabis products. According to Connecticut Department of Consumer Protection, the combined sales of the two markets totaled approximately $27.5 million, which is the highest monthly sales total ever recorded.
The record of $25.7 million set one month earlier was surpassed by the record last month.
In a press release accompanying sales figures, DCP Commissioner Bryan T. Cafferelli stated that “One year ago the state of Connecticut created an entirely new market. It created jobs, opportunities, and a secure, regulated method for adults to buy cannabis.” Since then, new businesses have been opened. We are proud of our agency’s work over the last year and look forward to growth, fair regulations, collaboration with sister agencies, as well as thoughtful problem-solving in the future.
In terms of what products were sold in December, marijuana flower accounted for 45 percent, while vapes accounted for 35 percent, and edibles accounted for about 13 percent. This is less flower (52%) than the average sales of the year, and more edibles and vapes (11% and 29%).
The average price of medical products was $34.94 in December, while the average for adult-use products has been $37.77 all year.
The retail sales of adult-use marijuana in California have increased rapidly over the last year. In May, they surpassed the monthly sales of medical marijuana for the first.
The department stated that sales data for the medical market only is not available until January 10, 2023 when adult-use sales begin.
Connecticut Department of Consumer Protection
Rodrick Marriott, DCP Drug Control director, stated that the team has “worked diligently in the past year” to continue reviewing and approvating provisional and final licence applications as well as over 4,600 new product and brand registrations.
According to DCP’s news release from this week, since the adult-use legalization started, “19 retail and hybrid retail establishments” have opened, including two equity programs. Two licensed delivery services opened to provide greater access for patients and consumers.
In the first year, regulators issued 94 more provisional licenses for all types of licenses. These licenses expire between 14 and 24 months depending on the date they were issued.
Connecticut Department of Consumer Protection
As a result of the increase in recreational marijuana purchase limits, Connecticut saw record sales last month. As of December 1, consumers can now buy twice as much cannabis in one transaction than they could previously, which is the equivalent of a half ounce.
The regulators have stated that the adjustment is the result of a continuous review of the available supply and demand within the state.
Patients can buy up to five ounces of medical marijuana per month, and they are not restricted by transaction limits.
During the holiday season last year, Connecticut officials banned alcohol sales during Christmas and New Year’s Day. However, marijuana retailers were allowed to remain open.
A state task force that was supposed to report this month , but has not yet been formed to examine whether home-grown marijuana should be sold at cannabis events by individuals.
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The post Connecticut Marijuana Retailers sold $274 million in the first year of the recreational market, with another new monthly record to end 2023 originally appeared on Marijuana moment.
