Arizona marijuana sales have begun and 2021 is expected to be an amazing year of sales for the plant.
Between medical marijuana and recreational cannabis, dispensary companies in the state are planning to grow two-to-three times as much marijuana this year.
The Arizona Department of Health Services has issued its end-of-year report for 2020, and medical marijuana sales increased year-over-year, for the eighth year in a row.
Arizonans purchased 106 tons of cannabis products from dispensaries in 2020, according to the report. That’s due largely to the fact that recreational cannabis is now legal for adults to buy as of January 22, 2021.
Demitri Downing, executive director of the Marijuana Industry Trade Association said that sales doubling “is conservative.”
“Certainly, the profits will double,” he said. “Triple, maybe more, depending on how supply and demand play out. The economics of marijuana is a brand-new discipline.”
Recently a new bill was introduced in Arizona that aims to fix the supply shortage which started in November 2020.
This was when mandatory testing of all medical marijuana sold at Arizona dispensaries began.
The new bill reads, in part, that: “If an independent third-party laboratory does not provide the test results for the usable marijuana and marijuana products for medical use to the nonprofit medical marijuana dispensary within seven business days, the independent third-party laboratory shall remit the amount paid for the test by the nonprofit medical marijuana dispensary to the department for deposit in the medical marijuana fund established by Section 36-2817. The department may use monies deposited in the medical marijuana fund pursuant to this subsection for proficiency testing as prescribed in subsection I of this section.”