Colorado's March Marijuana Revenue Highest of 2022 But Still Down From Last Year
- 2 years ago
#Colorado saw an increase in its #marijuana sales from #February to #March, but the figure is still lower than March 2021, causing concern for some in the industry. The #marijuana industry brought in $162.5 #million in #revenue in March or about 12%, more than February.
But this total is $44.6 million less than the state saw in March 2021, a 21.5% decrease in revenue. March 2022's total is the most revenue the industry has seen since #December, according to Department of Revenue #data.
Although March 2022 has the second highest #sales volume the state has seen since #recreational marijuana became legal in 2014, sales of medical marijuana were down 43.3%.
The Marijuana Industry Group, which calls itself the oldest and largest trade association for licensed cannabis #businesses, said in a release that HB-1317 has made it increasingly difficult for medical patients to access #medical marijuana #treatment. While the bill was “well-intentioned” in its goal of keeping marijuana out of young people’s reach, it has had “devastating consequences” for medical patients. Tiffany #Goldman, chairwoman of the Marijuana Industry Group said.
“This continued decline in sales, particularly in the medical market, is highly concerning, and we need to do everything we can to help businesses stay afloat and ensure medical patients can get the treatment they need,” Goldman said in a release. “We hear from our members every day that they can’t cope with the high #taxes and burdensome regulations that make it exceptionally difficult for small businesses to #survive in this industry. Moving forward, we need to ensure we’re not regulating the industry out of existence.”
Distributed by: Cannabis Broadcast Station/ Infinity Broadcast Network
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But this total is $44.6 million less than the state saw in March 2021, a 21.5% decrease in revenue. March 2022's total is the most revenue the industry has seen since #December, according to Department of Revenue #data.
Although March 2022 has the second highest #sales volume the state has seen since #recreational marijuana became legal in 2014, sales of medical marijuana were down 43.3%.
The Marijuana Industry Group, which calls itself the oldest and largest trade association for licensed cannabis #businesses, said in a release that HB-1317 has made it increasingly difficult for medical patients to access #medical marijuana #treatment. While the bill was “well-intentioned” in its goal of keeping marijuana out of young people’s reach, it has had “devastating consequences” for medical patients. Tiffany #Goldman, chairwoman of the Marijuana Industry Group said.
“This continued decline in sales, particularly in the medical market, is highly concerning, and we need to do everything we can to help businesses stay afloat and ensure medical patients can get the treatment they need,” Goldman said in a release. “We hear from our members every day that they can’t cope with the high #taxes and burdensome regulations that make it exceptionally difficult for small businesses to #survive in this industry. Moving forward, we need to ensure we’re not regulating the industry out of existence.”
Distributed by: Cannabis Broadcast Station/ Infinity Broadcast Network
http://www.cannabisbroadcaststation.com
@cannabisbroadcaststaion
#cannabisnews #news
Sponsored by Snacks: www.thesnacksshop.com