New Jersey adult-use cannabis sales reach nearly $80M in 2nd fiscal quarter

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New Jersey adult-use cannabis businesses recorded nearly $79.7 million in total sales between April 21 and June 30 of the state’s second fiscal quarter.

The sales information was released by the state Cannabis Regulatory Commission and Treasury Department and reported by the New Jersey Herald in Newton.

That figure includes nearly $1.9 million in recreational sales on April 21, the day New Jersey recreational sales launched with a dozen stores.

Medical cannabis sales rose to $59.3 million during the second fiscal quarter, bouncing back from a small decrease during the previous three months, according to the New Jersey Monitor.

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There are 18 medical marijuana dispensaries in New Jersey licensed to sell recreational cannabis; another location in Montclair, owned by Ascend Wellness, has state approval but is waiting for a local license.

The Monitor also reported that an eighth of an ounce of marijuana can cost up to $70 at a licensed retailer, compared with $40 and $50 on the illicit market.