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Colorado has made more than $ 1.1 billion in marijuana sales since the COVID-19 pandemic began in that country, according to US Treasury Department figures.
Legal marijuana sales topped $ 200 million for the second straight month in August, the second highest monthly revenue since recreational sales began in 2014. Counted back to March of that year when Colorado and the rest of the nation began , to close Due to the pandemic, pharmacies sold over $ 1.1 billion worth of marijuana products – excluding sales in September and October.
DOR data shows that over $ 218.6 million worth of marijuana products were sold in August. Recreational activity sales were more than $ 176.5 million (also the second highest monthly total since 2014), while medical marijuana sales remained strong at just over $ 42 million.
Marijuana sales in August saw a slight decrease from a record-breaking $ 226.3 million in July, but were still more than 20 percent year-over-year increase from the same month in 2019.
While marijuana sales usually begin a slow seasonal decline in September, this year was far from predictable. After a bumpy start to 2020, government budget projections were prepared for falling marijuana revenues, with falling tourist and resident wages cited in the wake of the ongoing pandemic. But instead, marijuana stores reported a strong, steady flow of traffic towards the end of April, with that summer slightly exceeding expectations. Monthly sales averaged $ 209 million between May and August.
Denver pharmacies and resorts like Aspen attributed higher sales to staycationers and residential stress and boredom in the summer of COVID-19; Border towns like Trinidad saw a steady stream of overseas customers. Alcohol sales also increased over the same period.
The record sales apparently weren’t deterred by wholesale cannabis prices, which hit a three-year high, according to DOR.
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Thomas Mitchell has been a cannabis-related writer for Westword since 2014, covering sports, real estate, and general news for publications like the Arizona Republic, Inman, and Fox Sports. He is currently the cannabis editor for westword.com.