Colorado marijuana sales in February hit 4-year low of $124.8 million

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Colorado medical and recreational marijuana retailers generated $124.8 million in sales in February, down about 3.5% from January and 14% year-over-year.

The monthly total is the seventh decrease in the past eight months and the lowest in four years, according to data from the Colorado Department of Revenue.

Through the first two months of the year, total marijuana sales hit $254.2 million, down 14% from the same period last year.

Colorado totaled $109.4 million in adult-use sales in February and $15.4 million in medical cannabis transactions.

In January, those totals were $113.2 million and $16.2 million, respectively.

The latest Colorado snapshot underscores the tail end of a decadelong boom in the nation’s most mature adult-use marijuana market, which saw wholesale prices slide for much of 2022.

MJBizDaily reported in February that Colorado retailers generated nearly $1.8 billion in total 2022 cannabis sales, down 20.7% from a record $2.2 billion in 2021.