Coronavirus has negatively impacted many industries this year but one to come out roaring has been the marijuana sector.
The state of Colorado has reported that sales this year at its marijuana dispensaries have hit a record.
Colorado dispensaries sold more marijuana in the first 10 months this year compared to a record-setting sales year in 2019 according to officials from the Department of Revenue.
The Department of Revenue said dispensaries made about $200 million in October. This put the state’s annual revenue to more than $1.8 billion this year and making it the highest selling year since recreational marijuana hit the market in 2014 said The Denver Post reported. Sales reached about $1.75 billion in 2019.
Colorado hit an all-time monthly high in July with $226 million in sales, officials said. It was the first time monthly revenue surpassed $200 million.
According to the data from the officials, Colorado consumers bought about $170 million worth of recreational cannabis and about $39 million worth of medical marijuana in October, a 33% increase compared to October 2019. The state collected more than $35 million in taxes and fees during the month.
