Record December pushes Missouri marijuana sales past $1.3 billion for 2023

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Missouri legal retailers reported selling more than $1.3 billion worth of medical and adult-use marijuana last year.

Missouri Department of Health and Senior Services data shows that adult-use marijuana sales reached approximately $1.04 billion in 2023.

Retailers reported a record $106.5 million in adult-use sales in December, breaking the previous mark of $98.7 million set in July.

Medical cannabis sales for the year were about $302.2 million.

The total is approximately in line with MJBizDaily projections and the business association MoCannTrade.

The 2023 MJBiz Factbook predicted $800 million in recreational sales and $500 million in MMJ transactions for a total of $1.3 billion.

The disparity between adult-use and medical sales suggests that Missouri MMJ patients are transitioning more quickly to the recreational market.

The $16.8 million worth of medical cannabis sold in December was the second-lowest total of the year, after the $16.4 million sold in November.

Medical marijuana sales have steadily declined from a peak of $37 million in January, the last month recreational cannabis was not available.

Cross-border demand continues to play a role in Missouri, which launched adult-use sales in February after voters approved a legalization measure in November 2022.

Retail outlets near bordering Arkansas, Kansas and Oklahoma are seeing steady growth, Mark Hendren, the co-owner of Flora Farms, told Springfield station KYTV last month.

Missouri marijuana stores are also seeing customers travel from Illinois, where adult-use marijuana has been available since January 2020 but is also taxed more heavily, Hendren added.

Missouri is poised to add more retail capacity this year through an additional round of microbusiness licenses.