With over three years into adult-use cannabis sales, Colorado’s marijuana industry still sees its stock soaring.
Thus far, 2017 combined adult-use and medical cannabis sales in January and February have eclipsed those same 2016 sales by 30%. The bulk of that increase comes from the adult-use market, as recreational sales in 2017 were up 38% in January and 48% in February compared to 2016.
The data crunch by MJ Biz Daily via Colorado’s Department of Revenue also points out that February’s $86.4 million in adult-use sales was the second-highest total for a single month, falling short of the $88.2 million apex set in September 2016.
Interestingly, this increase in sales comes at a time when the wholesale cannabis market is crashing, down a purported 33% from 2016 to 2017. Recreational ounces of medium-grade cannabis can go for as low as $1,000 on the wholesale market and currently sit in the $1,100-$1,300 range.
Since retail prices, down to $25 an ⅛ at certain outlets, are also at a relative low, consumption is at a clear all-time high. The weed is cheaper yet people are still spending far more money on cannabis.
The only question is whether or not Colorado’s…