Rhode Island's total cannabis sales surpassed $9.67 million in August, representing the fourth consecutive month of record sales, reported Marijuana Moment, citing data released by the state Department of Business Regulation.
The top-selling product categories last month were cannabis flower, followed by raw pre-rolls and edibles.
Recreational sales amounted to $7.03 million, while medical cannabis sales in the same period totaled $2.6 million.
For comparison's sake, recreational cannabis sales have increased by over 106% since its launch on December 1, 2022. Over the same time, medical cannabis sales plunged by nearly 34%.
A similar trend is evident in Montana, which recently set a cannabis sales record with $28.6 million in August. Of that sum, $4.6 million accounted for medical marijuana, while $23.7 million for recreational cannabis.
Meanwhile, the slow implementation of new dispensaries in Rhode Island leaves cultivators without sufficient avenues to sell their products.
President of Warwick-based Mediflor Organics, Nick Lacroix stressed the urgent need for more dispensaries, as the cultivators have already "seen a 30-40% layoff rate."
"We don't have the outlets to sell to," he said earlier this year.
Rhode Island's current law allows for the opening of 24 more marijuana shops in addition to the existing nine.
The state's three-member Cannabis Control Commission (CCC), appointed by Gov. Dan McKee in May, gathered for the first time at the Department of Administration building this summer.
The experts are tasked with regulating and licensing recreational and medical marijuana, the CCC also holds the key to establishing advertising rules for dispensaries.
To learn about the latest regulatory changes in the marijuana space, join us at the upcoming Benzinga Cannabis Capital Conference this week in Chicago, Sept 27-28. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
Photo: Courtesy of NikolayFrolochkin and ganjaspliffstoreuk by Pixabay
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