How Much Weed Was Sold In Top-Selling Cannabis States? Arizona & Michigan Smash Records Again

By Jelena Martinovic

Arizona continues to smash cannabis gross sales documents, with but a different milestone of more than $1.23 billion of cannabis items sold in the course of the initially 11 months of 2021, Arizona Mirror writes.

Right after soaring to record highs in October to almost $58 million, adult-use recreational hashish sales strike a new peak in November by surpassing $60 million for the initial time. On the professional medical side, right after reaching $73 million in March and April, sales fluctuated through the calendar year.

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In Oct, believed cannabis profits for both of those plans have been inside $7 million of each other, representing the initially time leisure income came so near to professional medical profits. With the state gathering a 16% excise tax on recreational profits in addition to the conventional sales tax, hashish gross sales delivered a strong tax contribution in the past year.

Relevant: Extra Red States Are Likely Wild For Weed

In November, taxes for recreational marijuana sales totaled all around $5.05 million, slightly earlier mentioned professional medical hashish tax, which amounted to $5.03 million.

Arizona voters approved the use of leisure cannabis in November 2020. In accordance to the New York Instances and The Affiliated Push, 59.9% of voters in the Grand Canyon State voted “yes” for Proposition 207, dubbed Smart & Risk-free.

Michigan Hashish Product sales Nevertheless Booming

In the meantime, Benzinga’s property point out of Michigan ended 2021 with a strong December in phrases of cannabis product sales, which improved by 66% yr-above-calendar year to $168 million.

Medical cannabis profits fell 17% from a year in the past, to $32.9 million, according to Michigan Cannabis Regulatory Agency’s info. Adult-use gross sales, in the meantime, greater by 119% over the very same period of time to a file $135 million, representing a sequential improvement of 12%.

Relevant: Here’s How Significantly Tax Income Has Been Gathered From Legal Cannabis Sales In The us

Flower and trim revenue represented 56% of the overall industry, regular with the prior two months but lessen than the 57% in the 3rd quarter and 58% in the 2nd quarter.

In addition, flower pricing for adult-use hashish saw a remarkable drop of 47% yr-more than-year and 3% from November to $2,958 for each pound.

In 2021, yr-to-day mixed gross sales have been up 82%, achieving $1.79 billion.

This report at first appeared on Benzinga and has been reposted with authorization.