Missouri sets new high with medical marijuana sales

Missouri sold $30.71 million in medical marijuana at dispensaries around the state in March

Strong sales in the shortened month of February proved to be a sign of more positivity as Missouri medical marijuana sales slingshotted forward in March.

Retail sales of medical marijuana jumped 15% over the prior month and set a new sales record, topping $30 million in monthly revenue for the first time, all as prices in dispensaries have started to descend.

Since July 2021, medical marijuana sales in Missouri have not fallen below $21 million and since November sales have stayed above $25 million.

As the program sits on the cusp of $300 million in cumulative sales, more than one-third of cumulative sales have been accrued in the last four months.

MoCannTrade Executive Director, Andrew Mullins, said, “Congratulations to our over 180,000 Missouri patients! For the first time, the Missouri medical cannabis industry passed $30 million in retail sales which is great news, but even better are the trends we’re seeing across the state that show how much our safe, regulated industry has matured including a myriad of new products, forms, cultivars, dosing options and brands. Patients are seeing much lower prices at dispensaries including $20 eighths, $100 half ounce, $20 gummies, and broad convenient access at the nearly 190 dispensaries serving patients in Missouri.”

   

In Q1 of 2022, Missouri registered $83.96 million in retail sales – averaging $27.99 million per month.

BDSA’s recently released Market Forecast estimates that full-year 2022 sales will reach a total of ~$360 million in Missouri.

Missouri brought in $209.75 million at retail in 2021 alone.

In 2021, flower dominated retail sales categories, but concentrates were the fastest-growing category representing 26% of all sales in Q4 2021.

The state currently has 332 licensed businesses approved to operate and boasts more than 7400 approved agents.