Maine's marijuana market keeps growing, sets sales record in June

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Maine’s recreational marijuana market continued its eye-popping growth in June, the state has reported.

Sales of cannabis for recreational, adult use topped $6.47 million for the month, up from $5.36 million in May, according to new data from the Maine Office of Marijuana Policy. More than 86,000 purchases took place during June.

The value of June sales is the highest monthly total since Maine’s recreational marijuana market launched last October, and represents a 20.6% increase over the dollar amount in May. That’s slightly less than the 23.2% growth in May over the previous month.

To date, sales have totaled nearly $30 million, according to the OMP. June sales were roughly six times the total in the first month.

More than 80 municipalities in Maine have opted to allow some form of recreational pot business within their borders, and 238 retail store licenses have been issued statewide.

There’s also been growth in Maine’s medicinal marijuana market. A total of 3,122 caregivers are now registered to provide medical-use cannabis, according to the OMP. In 2020, the total reached 3,046.

Maine recorded its highest number of registered caregivers, 3,257, in 2016. That was also the year Maine voters authorized the recreational use of marijuana. The number of caregivers declined for several years afterward, but recently has been picking up.

Maine legalized medical use of the drug in 1999.

One of the state’s newest medical marijuana stores opened Friday in Wells. Curaleaf Holdings Inc. (CSE: CURA), based in Wakefield, Mass., cut the ribbon at 913 Post Road, the company’s fourth medical-use retail operation in Maine. The company also operates an adult-use shop in South Portland.

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