Colorado marijuana sales break another record, hit $1.5 billion in 2017

Despite falling marijuana prices, annual sales in one of America’s oldest regulated recreational cannabis markets have yet to plateau and instead continue to break records.

Colorado’s marijuana stores rang up a record $1.5 billion in sales of medical and recreational cannabis, edibles and concentrate products in 2017, according to data released by the state’s Department of Revenue.

That’s up 15% from 2016, when retailers sold $1.3 billion, which was the previous record. In 2015, the state registered $996 million in sales.

Early in 2017, the state set some monthly records for sales even though wholesale cannabis prices were down 33%.

Adult-use sales topped $1.09 billion during the year, with the remaining $416.5 million coming from medical marijuana, according to the Denver Post.

It took Colorado just eight months to reach $1 billion in retail cannabis sales in 2017 – a record clip for the state.

In 2016, by contrast, it took Colorado 10 months to hit the $1 billion sales mark.

Colorado’s MMJ sales got a boost in June, when the state added post-traumatic stress disorder to its list of treatable conditions.

– Associated Press

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One comment on “Colorado marijuana sales break another record, hit $1.5 billion in 2017
  1. Brett Roper on

    As the Colorado market continues to evolve over time, it is likely that we will look back on 2017 and 2018 as banner years. As additional states adopt initiative to allow both adult use as well as medical use cannabis the tourism allure will begin to diminish which will certainly have an impact on adult use sales and as wholesale price pressures and competitive influencers continue to have their way with the overall marketplace, there is likely not enough new interest to add to existing use to continue this ramp up in the overall revenue cycle.

    Two years ago SB3 in Pennsylvania was one of the first cannabis legislative initiatives to include actual language allowing for public company ownership (on page three of the bill) and now there is another newly introduced variable element to consider in that HB 18-1011 if passed, would allow for public company ownership of cannabis based licenses here in Colorado. To this point investment from outside of Colorado in such businesses has been virtually non-existent. MDCL is actively supporting passage of this legislation in concert with several other private businesses here in Colorado so stay tuned for the next installment.

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