Licensed marijuana retail outlets in Oregon sold over $80 million worth of marijuana and marijuana products in August.
According to data released by the Oregon Liquor and Cannabis Commission, total marijuana sales for August was $81,631,600, roughly a quarter million dollars shy of the $81,880,154 sold in July. These sales include dried marijuana flower and shake as well as other marijuana products such as concentrates (hash, oil, wax, etc.), edibles, tinctures and topicals.
Based on Oregon’s 17% marijuana excise tax, the state garnered just shy of $14 million in taxes for the marijuana sold in August. This does not include taxes garnered from the up to 3% citywide tax implemented by some localities.
The average price per gram of dried marijuana in August was $3.95. Although this is $0.26 more than the all-time low of $3.69 in April of this year, it’s still 62% less than the $10.50 average at the start of legal sales in October,
The average price per gram of marijuana oil was an even $16 in August, the exact same price as it was in July and a 60% decrease from the $40 average in 2016.
Total sales-to-date since the start of recreational marijuana sales is now $5.907 billion, resulting in $1 billion in tax revenue.
Oregon’s marijuana law was approved by voters in 2014. Under the law those 21 and older are allowed to possess up to two ounces of marijuana, or eight ounces at home, as well as one ounce of marijuana extracts, 16 ounces of marijuana-infused solids and 72 ounces of marijuana-infused liquids.
More articles from The Marijuana Herald can be found below.
