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Saturday, March 25, 2023

Medical marijuana sales in Colorado are at their lowest point since legalization

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Medical marijuana sales in Colorado fell to their lowest level since retail sales began — the latest sign that the state’s once-strong industry is facing headwinds as others crowd the US market and new regulations take hold.

In July, marijuana sales in the state for recreational and medical purposes were just shy of $154 million, according to Colorado Department of Revenue figures, down from nearly $203 million a year earlier. Calendar year sales crossed the $1 billion mark.

Medical marijuana sales in July came to just over $18 million — the lowest monthly number since January 2014, when retail sales were legalized in the state. Recreational marijuana sales did better with more than $135 million — down from $168 million a year earlier, but higher than the numbers in April, May and June.

Read the rest of this story at DenverPost.com.

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