October sees drop in Missouri marijuana sales for third straight month

October sees drop in Missouri marijuana sales for third straight month

 

October saw Missouri marijuana sales slide for the third straight month.

The month’s total sales reached $113.10 million, the lowest sales total since adult use sales began in a shortened February, with medical marijuana sales falling nearly $20 million from January’s $37 million mark.

Breaking down this total, recreational marijuana sales reached $95.50 million, while medical marijuana contributed $17.60 million. Compared to the previous month, September 2023, where total sales were $117.80 million, this represents a 3.99% decrease in overall sales. Specifically for medical marijuana, the sales in September were $19.60 million, indicating a 10.20% drop in the medical segment in October.

   

From August to October 2023, Missouri’s marijuana market demonstrated a noticeable decline in sales. In August, total sales amounted to $119.00 million, marking the beginning of a downward trajectory. This was a slight decrease from July’s $123.20 million. September continued this trend, with total sales decreasing to $117.80 million. In October, sales declined more significantly to $113.10 million.

Analyzing the medical marijuana sales in Missouri for 2023 reveals a distinct downward trend, following the introduction of recreational marijuana in February.

January to October 2023 Medical Marijuana Sales Trends

  • January 2023: The year began with medical marijuana sales at $36.99 million, representing the entire marijuana market in Missouri at the time.
  • Introduction of Recreational Sales: In February, alongside the introduction of recreational marijuana, medical sales began to decline. This month saw a total of $31.20 million in medical sales, a decrease from January.
  • Consistent Decrease: This downward trend continued consistently through the year. Each subsequent month saw a reduction in medical marijuana sales.
  • Significant Drops: By mid-year and towards the end, the drop became more pronounced. For example, sales decreased to $26.00 million in June, $24.50 million in July, and by October, they were down to $17.60 million.