Arizona Exceeds Billion In Legal Marijuana Sales For 2022, With Three Months Of Data Yet To Come In
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Cannabis sales are dropping month over month, but there are signs the market is leveling out. By David Abbott, Arizona Mirror Cannabis sales continued to decline in September, but dispensary owners say it is not an unexpected phenomenon and the market will continue to mature as it withstands a worldwide recession on the heels of a global pandemic. The medical marijuana market continued its precipitous decline, dropping to slightly less than $31 million in sales for the month of September, a 12 percent dip from the $35.2 cardholders purchased in August. The decline of that sector began in earnest this past spring, and the September sales totals are less than half of the high water mark of $73 million in March 2021, the largest monthly total since recreational sales began in January 2021. Adult-use recreational sales fell nearly $2 million from August to September to $75.3 million, though the recreational market has been much more stable, hovering around that level since May. September 2021 was the last time medical sales were larger than recreational. That month, the Arizona Department of Revenue reported $63.4 million in medical sales compared to $58.5 million on the recreational side—but every month’s reporting since then has shown the programs going opposite directions. In October 2021, medical sales were about $65. 1 million—the last month-over-month increase — and recreational sales were $65.6 million. In September, recreational outperformed medical sales by more than $45 million. The explosion of the marijuana market in 2021 is considered an anomaly due to the effects of COVID-19 and partially attributed to the initial excitement consumers felt by the passage in 2020 of Proposition 207 legalizing recreational marijuana. “Certainly when you compare [current sales] to last year, you’re seeing drops,” said Ryan Hermansky, founder of Flagstaff’s Noble Herb dispensary, PURE Edibles and…
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