Combined adult-use and medical cannabis sales in Connecticut totaled nearly $23 million in May, according to state Department of Consumer… Read More
Combined adult-use and medical cannabis sales in Connecticut totaled nearly $23 million in May, according to state Department of Consumer Protection data. Adult-use sales topped $11.5 million during the month, while medical cannabis sales reached $11.2 million.
During the month, 312,758 medical cannabis products were sold, with an average price of $35.86, while adult-use consumers purchased 292,054 products, with an average price of $39.47.
Adult-use sales totals in May were the highest since the launch of legal sales in January, topping the previous record of $10.2 million recorded in April. Medical cannabis sales fell slightly in May from the $11.4 million recorded the previous month.
The average adult-use cannabis product price also reached its lowest level since adult-use sales commenced but fell only slightly from April’s average price of $39.48. Medical cannabis sales have remained stable but May’s average product price was the second lowest since January.
The prices reported by the agency do not include taxes, which are based on milligrams of total THC for edibles and concentrates. Flower sales include the state’s usual 6.35% sales tax, a 3% tax that goes to the municipality where the sale occurs, and a tax based on THC content. Medical cannabis sales are untaxed.
Ganjapreneur.com