Although marijuana sales dropped between October and November, so did marijuana prices.
There was $17,635,649 worth of legal marijuana purchased in November, spread out among 315,978 different transactions. This is according to new data released by Maine’s Office of Cannabis Policy.
Although sales were down slightly from the $18.9 million sold in October, the average cost per gram dropped to an all-time low of $7.52, down from the $7.67 average in October and the $7.81 average for the year as a whole. This is the third straight month where the average price per gram dropped to a record low.
The year-to-date total for marijuana sales is now just $2.5 million shy of $200 million, spread out among 3.4 million transactions.
Under Maine’s marijuana law marijuana receives a 5.5% general sales tax on retail sales, with edibles taxed at 8%. Based on this Maine garnered nearly $1 million in marijuana tax revenue in October.
Recreational marijuana was legalized in Maine in 2016. The law allows those who are 21 and older to possess up to 2.5 ounces and grow up to six plants. Due to legislative delays the first licensed marijuana store didn’t open until October, 2020.
You can find more sales data for Maine’s legal marijuana industry by clicking here.
