Combined Medical And Adult-Use Cannabis Sales In Colorado Reach $115.4M In January
Colorado Cannabis Sales Hold Steady in January, Year-Over-Year Decline Continues.
January cannabis sales in Colorado came in flat compared to December, according to data released by the Colorado Department of Revenue. Combined medical and adult-use marijuana sales earned $115.4 million in January, which compares to $115.8 million in December.
Out of the $115.4 million total, medical marijuana sales accounted for $15.28 million, while recreational sales yielded $100.11 million.
Sales remained in line month-over-month, on a year-over-year basis, figures declined 10.8% from $129.4 million in January 2023.
In 2023, the state’s cannabis sales barely surpassed the $1.5 billion mark, a decrease from $1.7 billion in 2022 and a significant drop from the peak of over $2 billion annually in 2020 and 2021. 2023 was the year the industry saw the lowest sales since 2017.
After launching the recreational cannabis market in 2014, Colorado collected a total of $2.66 billion in taxes and fees from marijuana businesses and has sold $15.6 billion worth of cannabis products. As of January of 2024 alone, taxes brought in $43.55 million. The Centennial State was the first to launch recreational cannabis sales in the United States.
Recent Cannabis Developments
Colorado Tourism Office (CTO) recently started promoting marijuana. According to Sarah Woodson, an owner of a pot-friendly party bus, the CTO contacted her to discuss the possibility of listing her mobile pot lounge once it received its licenses. Woodson's business, the Cannabis Experience ended up on the list of things to do in Colorado after it was greenlighted to operate last year.
In January, a new bipartisan measure was introduced seeking to remove a recently implemented rule that mandated testing cannabis for a fungus called Aspergillus. The rule issued by the Colorado Marijuana Enforcement Division (MED) resulted in 17 product recalls in 2023, the most in the last seven years.
by Nina Zdinjak.
