Reaching a record $21M in July, cannabis sales are lighting up
FILE PHOTO
Retail cannabis sales in July reached a new monthly record.
Sales of recreational-use cannabis are sprouting in Maine like — well, a weed. In July, sales reached a record $20.87 million, representing 360,886 retail transactions.
That's the highest monthly total since Maine businesses began legally selling recreational cannabis three years ago.
The Maine Office of Cannabis Policy reported that July 2023 sales included $5.1 million of concentrate, $3.5 million of infused product and $12.2 million of “usable cannabis.”
The July sales total topped that of June, when revenue was $18.5 million.
From August 2022 through May 2023, monthly sales had been in the $13 million to $17 million range.
Annual totals are lighting up as well.
Sales in 2023 so far add up to $118.3 million, representing 2 million transactions. That puts the year on track to exceed 2022’s total of $158.89 million.
In 2021, cannabis businesses reported adult-use sales of $82 million, compared with $4.3 million in 2020.
Maine voters approved the recreational use, retail sale and taxation of cannabis in November 2016. The Office of Cannabis Policy was established in February 2019.
The first active adult-use establishment licenses — including the first cultivation licenses — were issued on Sept. 8, 2020.
Retail sales to the public began in October 2020.
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