With November’s marijuana sales, Colorado has now offiicially hit the $2 billion mark annually for the very first time.

According to numbers released by the Department of Revenue this week, dispensaries sold $175.1 million worth of products in November. Recreational sales accounted for about $140.5 million, while medical sales accounted for nearly $34.7 million, said the agency.

The state also collected nearly $32.4 million in taxes and fees in November.
November’s total was a drop of nearly 12% compared to October, but it was still enough to help the state hit a milestone and have an incredible year of marijuana sales.

From January of 2020 to November of 2020, the state’s consumers had bought more than $2 billion worth of marijuana product said the Department of Revenue.

In 2019, dispensaries reached $1.75 billion in annual sales, which was also a record at the time.

According to Roy Bingham, co-founder and executive chairman of Boulder data firm BDSA, who spoke to the Denver Post, the national market grew more than 45% to $18 billion in 2020, outpacing forecasts by about $2 billion, an increase attributable to “the COVID effect.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

A Weed Compound Has Been Found That May Be 30 Times Stronger Than THC
05 February 2020
Marijuana Magazine “High Times” Is Planning to Go Public
27 July 2017
San Francisco’s Police Department Offers Warning About Annual Marijuana Day
19 April 2019