Lifestyle

Maine’s adult-use cannabis sales surpassed $10 million in August | Cannabis Business Executive – Cannabis and Marijuana industry news

It was the first time the industry has reported monthly sales of at least $10 million since the state’s adult-use market launched in October 2020. Maine’s adult-use cannabis retailers continue to break sales records, with $10.2 million worth of marijuana products sold in August. The August sales jump was a more moderate than July’s 45…
The post Maine’s adult-use cannabis sales surpassed $10 million in August appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

It was the first time the industry has reported monthly sales of at least $10 million since the state’s adult-use market launched in October 2020.

Maine’s adult-use cannabis retailers continue to break sales records, with $10.2 million worth of marijuana products sold in August.

The August sales jump was a more moderate than July’s 45 percent increase from June sales, but it marks the first time the industry has reported monthly sales of at least $10 million since the adult-use market launched last fall.

The state’s 53 licensed adult-use retailers reported 133,969 sales transactions totaling over $10.2 million last month, earning the state roughly $1 million in sales tax revenue, according to data released Tuesday by the Maine Office of Marijuana Policy.

Recreational cannabis sales in Maine have climbed steadily since the market launched less than a year ago, with retailers totaling about $1.1 million in sales the first month and setting a new record each month thereafter.

In July, retailers brought in about $9.4 million, smashing the previous record by almost $3 million.

While the Office of Marijuana Policy does not track sales to out-of-state residents specifically, officials have said it is likely that summer tourism has contributed to the recent bump in business.

The adult-use market has reported about $48.9 million in sales so far, earning the state almost $5 million in sales tax revenue since it opened in October 2020following years of delays. [Read More @ Portland Press Herald]

 

 

The post Maine’s adult-use cannabis sales surpassed $10 million in August appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

| Cannabis Business Executive – Cannabis and Marijuana industry news Read More or Shop @ https://pinkplanes.com/shop/

Comments Off on Maine’s adult-use cannabis sales surpassed $10 million in August | Cannabis Business Executive – Cannabis and Marijuana industry news
Drop Your Email22% OFF 1st Order