Medical Cannabis

Marijuana sales decline sequentially in most markets in August

Sales of marijuana dropped from over $103 million this time last year to just over $82 million. (KATU)

According to cannabis data analytics firm BDSA, marijuana sales decreased by 0.8% in August compared to July.

“In this review, we will look at the markets one by one, beginning with the eastern markets and then concluding with the western markets,” noted a New Cannabis Ventures’ exclusive summary of BDSA’s monthly cannabis sales data for 11 states.

Eastern Markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, and Pennsylvania.

“In August, year-over-year growth ranged from -12.7% in Maryland to 29.5% in Florida. Note that Florida, Maryland, and Pennsylvania are medical-only markets,” reads the NCV summary.

Florida: In August, “sales increased 1.1% sequentially to $196 million, up 29.5% from a year ago. Flower sales grew 20%, pre-rolls increased 41%, ingestible gained 19%, and concentrates expanded 42% year-over-year.”

Illinois sales declined 3.8% from July and increased 2.5% from August 2021. “BDSA estimated sales of $158.4 million, down 3.8% sequentially and up 1.5% from a year ago. Compared to last year, flower sales declined 3%, pre-rolls jumped 39%, ingestible fell 5% and concentrates increased 4%.” In addition, cannabis sales in Maryland “decreased 4.8% from July to $40 million, down 12.7% from a year ago. Flower sales decreased 10%, pre-rolls declined 15%, and concentrates fell 22%, while ingestibles were down 1% year-over-year.”

In Massachusetts, where sales declined 1.4% sequentially and increased 0.6% compared to a year ago to $153.3 million, “flower sales grew 1% and ingestibles expanded 2%, pre-rolls increased 6% and concentrates declined 4% compared to last year.”

According to the New Cannabis Venture’s Alan Brochstein, “Michigan marijuana sales slipped 1% sequentially and increased 26% year-over-year. BDSA estimated sales of $207.9 million, down 1% sequentially and up 23.2% from a year ago. Flower sales increased by 28%, while concentrates grew by 23%. Pre-rolls jumped 49% and ingestibles gained 1% compared to the prior year.”

Meanwhile, in Pennsylvania, ‘weed’ sales declined 2.3% in August to $93.1 million, down 11.8% compared to a year ago, and “flower sales declined 10% year-over-year, concentrates fell 14%, while ingestibles were down 2%.”

Western Markets

To Read The Rest Of This Article By Joana Scopel on Benzinga

  Click Here“]

Published: October 07, 2022

The post Marijuana sales decline sequentially in most markets in August appeared first on L.A. Cannabis News.

Content Source: https://lacannabisnews.com/marijuana-sales-decline-sequentially-in-most-markets-in-august/

Sally Anderson

Sally is a Masters in Business Administration by education. After completing her post-graduation, Sally jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor.

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