Massachusetts: $148 Million in Marijuana Sold in October, Price Per Gram Drops to All-Time Low of $5.68

Massachusetts marijuana sales fell just short of $150 million in October.

Licensed marijuana retail outlets and dispensaries in Massachusetts sold $148.8 million worth of marijuana and marijuana products in October. $17.3 million of this was purchased by medical marijuana patients, with the remaining $131.5 million purchased by recreational consumers.

Year-to-date marijuana sales is now $1.32 billion. All-time sales, starting in 2018, are now $5.31 billion.

Sales numbers include a variety of products including dried marijuana flower and marijuana concentrates, as well as marijuana-infused edibles, tinctures and topicals.

The price per gram in October of dried marijuana dropped to an all-time low of $5.68, a $0.23 decrease from September. The average price per ounce also reached an all-time low of $160.90, a $6.58 decrease from the average for September.

Marijuana was legalized in Massachusetts in 2016, with the first marijuana store opening in 2018. The law allows those 21 and older to possess up to an ounce of marijuana and grow up to six plants. Recreational marijuana purchases include a marijuana excise tax of 10.75%, which is in addition to the standard statewide sales tax of 6.25%. Localities can also institute a citywide tax of up to 3%.

Also in Massachusetts, a campaign seeking to legalize psychedelics has collected enough valid signatures to force the legislature to vote on their initiative. If the legislature rejects the initiative, it will be put to a vote of the people.

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