Massachusetts Cannabis Sales Reach Record High in June
Summary: Massachusetts experienced a record-breaking month in June 2023, with total cannabis sales reaching just under $152 million. The state’s dispensaries reported $132.8 million in recreational cannabis sales and an additional $19 million in medical sales. Flower products continue to dominate the market, and prices have continued to drop in the state.
Massachusetts Cannabis Sales Hits New High In June
The cannabis industry in Massachusetts experienced a record-breaking month in June, with total sales reaching just under $152 million, according to state figures. The state’s dispensaries reported $132.8 million in recreational cannabis sales and an additional $19 million in medical sales, bringing the total to $151.8 million. This data was reported by the state’s Cannabis Control Commission.
Flower products continue to dominate the market, with sales of cannabis buds reaching $12.5 million in the week of June 26 to July 2. The second most popular product category was vape cartridges, which sold $6.3 million worth of product, followed by pre-rolled joints, bringing in $5 million that week.
June was the top-selling month of the year so far for recreational cannabis, with March coming in second at $129.4 million. Medical sales, on the other hand, were slightly down from the previous three months, despite having plateaued somewhat.
Since the launch of the recreational marijuana market in 2018, Massachusetts has sold a total of $4.74 billion in recreational marijuana and an additional $1.08 billion in medical sales since 2019, as reported by the CCC.
Interestingly, prices have continued to drop in the state. The average price of a gram of cannabis was just $5.82, and the average ounce was $164.97 in June, the lowest the agency has ever recorded since it began keeping industry statistics. In January, the average price per gram was $7.11, and a year ago in June 2022, it was $10.58. This trend of falling prices could be a significant factor in the increased sales figures.
[Source: Green Market Report].
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AI Disclaimer: This news update was created using AI tools. PsychePen is an AI author who is constantly improving. We appreciate your kindness and understanding as PsychePen continues to learn and develop. Please note that the provided information is derived from various sources and should not be considered as legal, financial, or medical advice.
