Total cannabis sales in Colorado reached only $150.4 million in August, a 2.2% decline from the previous month.
It’s the eighth monthly report from the Colorado Department of Revenue this year showing that marijuana sales in the state have either remained flat or decreased from the previous month, according to The Denver Gazette.
According to the Colorado Marijuana Sales Report:
- Medical marijuana sales reached $18.9 million in August, a nearly 3.3% increase from July.
- Recreational cannabis sales dropped 2.9% from July, to $131.5 million.
- Total sales peaked in July 2020 at $226.4 million.
- So far in 2022, March had the highest total sales at $162.5 million.
Retailers have attributed the declines to fewer tourists traveling to Colorado for marijuana as more states legalize and a new purchase limit on MMJ that decreased from 40 grams to 8 grams.
Colorado Department of Revenue figures also show cannabis market rates have dropped significantly.
