Mississippi’s medical cannabis sales eclipse $4.4 million in July

Medical cannabis retailers in Mississippi sold $4.4 million worth of products in July, up 15.3% from June, according to state data provided to MJBizDaily.

The July total – $4,429,093 – marked the sixth straight month of increased sales since the state launched MMJ retail in late January, Department of Revenue statistics show.

Mississippi regulators and state agencies have yet to release monthly sales figures publicly, but an official told MJBizDaily they will at some point.

Since the medical marijuana program started in Mississippi, retailers have sold $15,718,622 worth of products.

The newest MMJ market in the Deep South has performed surprisingly well despite nearly four dozen Mississippi cities and counties opting out of the program, according to the Biloxi Sun Herald.

Certain limits on product potencies and purchases have also hindered growth and the market’s fuller potential in the early going.

In October, the Mississippi revenue and health departments said they had issued provisional licenses to 138 dispensaries, 47 cultivators, eight processors, four transportation entities, three state-mandated “disposal companies” and two testing labs.

Despite the number of eligible retailers in the state, only a handful began selling medical marijuana in late January.

The initial path to legalization in Mississippi was derailed by the state Supreme Court, which invalidated a voter initiative and a November 2020 ballot measure that garnered 69% approval from voters.

In January 2022, the state Legislature approved a compromise – the Mississippi Medical Cannabis Act – that Republican Gov. Tate Reeves signed into law the next month.

Source: https://mjbizdaily.com/mississippi-medical-cannabis-sales-eclipse-4-4-million-in-july/