Colorado Marijuana Gross sales Prime $ 1 Billion Throughout COVID-19 Pandemic

^

I support

  • Local
  • Community
  • journalism

Support the independent voice of Denver and help keep the future of Westword free.

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.

Keep Westword Free … Since we started Westword, it has been defined as the free, independent voice of Denver, and we want it to stay that way. We offer our readers free access to concise coverage of local news, food and culture. We produce stories about everything from political scandals to the hottest new bands, with bold reporting, stylish writing, and staff who have won everything from the Society of Professional Journalists’ Sigma Delta Chi Feature Writing Award to the Casey- Medal for Meritorious Journalism. But with the existence of local journalism under siege and the setbacks in advertising revenues having a greater impact, it is now more important than ever for us to raise funds to fund our local journalism. You can help by joining our “I Support” membership program, which allows us to continue to cover Denver without paywalls.

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.

Comments are closed.