Business
Connecticut marijuana sales approach $23 million in May
Combined sales of recreational and medical marijuana in Connecticut totaled nearly $22.8 million in May, surpassing the previous monthly record of $22.1 million set in March.
May adult-use sales hit a monthly high of $11.5 million, up 13.2% from the $10.2 million figure reported by the state for April.
In dollar terms, recreational marijuana sales accounted for 50.7% of cannabis sales in Connecticut during the month.
The total number of adult-use products sold in May was 292,054, up from 259,499 in April.
Meanwhile, medical marijuana sales declined on a month-over-month basis, a typical pattern in markets where adult-use legalization follows MMJ legalization.
Retail sales of medical cannabis shrank by 1.7% from April to May, totaling $11.2 million.
The number of MMJ products sold declined slightly to 312,758 in May, from 314,985 in April.
The average product price in May was $39.47 for adult-use cannabis products and $35.86 for MMJ products.
Recreational cannabis sales in Connecticut began Jan. 10.
The 2023 MJBiz Factbook projects adult-use cannabis sales in Connecticut could reach as much as $200 million this year, with MMJ sales worth up to $149 million.
Source: https://mjbizdaily.com/connecticut-marijuana-sales-approach-23-million-in-may/