Chart: Arkansas medical marijuana sales top $353,000 via just two dispensaries, outpacing initial OH sales

Sales of medical marijuana in Arkansas are off to a strong start, with patients purchasing more than 50 pounds of cannabis in nearly 5,000 transactions in the first week dispensaries were open.

The initial sales eclipsed those in Ohio, which has nearly four times the population.

With sales underway, the Arkansas market could grow at a rapid clip, with several new dispensaries expected to open next month, more patients likely to register for MMJ identification cards, and new license types designed to create more business opportunities.

In addition, the 2019 Marijuana Business Factbook estimates sales in Arkansas will reach $15 million-$20 million in 2019.

Here’s what you need to know about medical marijuana sales in Arkansas:

  • Arkansans purchased 52 pounds of cannabis over 4,787 transactions during the first week of sales – an average of 5 grams per transaction – estimated at $353,802 in pretax receipts, the Arkansas Democrat-Gazette reported.
  • Arkansas generated these sales figures from just two dispensaries – Doctors Orders Rx began sales in Hot Springs on May 10 while Green Springs Medical opened May 12, also in Hot Springs. By comparison, initial medical marijuana sales in Ohio averaged $248,000 per week with four operating dispensaries.
  • By May 13, the two dispensaries had brought in $93,000 in sales – demonstrating strong patient demand for medical cannabis.
  • Despite more than two years of delays, patients continued to apply for medical ID cards. The state had just over 12,000 patients as of mid-May – a 121% increase over patient counts in June 2018.

Scott Hardin, a spokesman for the Arkansas Department of Finance and Administration, attributed the state’s strong first-week sales to patient interest in the program.

“Now that dispensaries are selling product, the number of patients could grow at an even faster rate,” Hardin said. “I think that 20,000 patients is a very feasible number for us in the near future.”

Hardin said some Arkansans are waiting for dispensaries to open nearby before they register for the program. He noted that “several” additional dispensaries are expected to complete their final inspections and begin selling product next month.

Initial sales have been restricted to dry flower as the state’s processors come online. Sales will likely see a boost when the state introduces infused edibles, concentrates and vape cartridges in the coming weeks, Hardin added.

The state will also create more business opportunities this year when it finalizes rules for new marijuana distribution and cannabis processing licenses.

There will not be a limit on the number of those licenses, which means more entrepreneurs will be able to participate in Arkansas’ market.

Maggie Cowee can be reached at [email protected]

Joey Peña can be reached at [email protected]

8 comments on “Chart: Arkansas medical marijuana sales top $353,000 via just two dispensaries, outpacing initial OH sales
  1. jeff l on

    This is just the tip of the iceberg.
    Your going to see more and more people buying cannabis.
    It`s going to be in the millions.
    People rather smoke pot then drink.
    Now they have an option.
    Pot smokers are less likely to do the dumb crap that drinkers do. Like lose their inhibitions.
    Think they are 10 feet tall and bullet proof.
    Watch cops and look at all the stupid crap that goes on from drinking….ridiculous

    Reply
    • Jamie Nonya on

      I agree, there has never ever been a proven case where a pot smoker caused a death of any means or over dose. I have terminal cancer along with my multiple Sclerosis and I thank God for making this plant along with the pastures, oceans, trees and all the other natural medicine God made, Not pharmaceutical companies that are killing us (poor ppl on purpose)!

      Reply
  2. Candy on

    I sure hope they open soon near me, I’m in Conway so I’m waiting for either Little Rock or Conway to get one open as I can’t make the drive to Hot Springs. I’ve had my card for almost a month and hate that right now that times just wasting away at it. They really shouldn’t make the start date of the card the date of your first transaction so you get your full years use from it. After spending $250 at the dr to get approval, I want every single month’s worth before I have to go back and pay that again.
    Is there a reliable date on the calendar as to when these two locations will open?
    Thanks

    Reply
  3. Rashaad M Gibson on

    $350,000 that is chump change ,Arkansas make that in lottery sales in 2 days especially when the power or Mega Ball jackpots payouts estimated around 350 million Plus. Arkansas population is 3.4 million out of that there is only 12,000 medical cannabis patients with a 120%increase in the future. Well looking at Arkansas pass developing a cannabis industry they took 4 years and 5 months to make $350,000? well let’s see if 350,000 people in Arkansas sign a petition for full legalization out of 3.4 million. The state of Arkansas deserves much more than this

    Reply
    • Cole on

      It’s sort of petulant to call $350,000 “chump change”. Especially considering there are two dispensaries, and thousands of lottery vendors.

      Reply
  4. Rashaad M Gibson on

    There are none as of yet maybe the hemp pilot program which is up and running in the state with hemp being a cash crop and legal in all 50 states maybe Arkansas farmers will put the hemp share on the market but for the time being there is no companies to invest into because they’re all locked down applications already been processed license for dispensaries and grow facilities has been issued out that is lockdown the only thing that you can do as a citizen to invest or to get involved is to sign the recreational ballot for legal cannabis in the state of Arkansas 2020 thanks

    Reply

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