After a sharp drop in January, when adult-use sales fell 15% sequentially as they rose 32% from the prior year, Illinois adult-use cannabis sales stabilized in February. Sales of $114 million fell 3% from January, but there were three fewer days during the month. Compared to a year ago, growth accelerated to 41%, noted New Cannabis Ventures.
Adult-use sales of $1.38 billion increased in 2021, 106% over 2020 and year-to-date sales of $231.3 million have increased 36% so far in 2022. Sales to non-residents have also been on the rise, adding to overall sales. In February, out-of-state purchases declined to 30.0% - the lowest since February 2021.
The state separately released sales from its medical program indicating that in February, medical sales totaled $28.2 million, down 5% from the prior year and down 5% sequentially.
Taking into account both medical and adult-use sales, total cannabis sales in February grew 29% to $142.2 million, down 3% sequentially.
In 2021, combined cannabis sales in Illinois totaled $1.78 billion, up 72% from 2020, and so far in 2022, they have increased 25% compared to a year ago.
Image created by JRod of Benzinga
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.