2023 was a record-breaking year for medical marijuana sales in Arkansas.
According to data released by the Arkansas Department of Finance and Administration, there was $283 million worth of medical marijuana and medical marijuana products sold throughout 2023. Sales included marijuana flower as well as a variety of marijuana products such as tinctures, lotions and capsules.
The $283 million in sales brings the total since 2020 to over $1 billion, and the total since the start of medical marijuana sales in 2019 to $1.035 billion.
“From $31 million in sales in 2019 to $283 million in 2023, the industry has grown each year”, says Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration. “The $25.6 million spent in December was the largest monthly amount in 2023.” Hardin said.
Hardin emphasizes that “In late 2023, Arkansas’ medical marijuana industry surpassed $1 billion in total sales since the first dispensary opened for business”.
Hardin says the state has averaged $772,000 worth of medical marijuana sales each day so far this year.
There are currently 38 medical marijuana dispensaries located throughout Arkansas. These are supplied by eight licensed cultivation facilities and eight processing centers.
Yearly medical marijuana sales goes as follows:
- 2019: $31.2 million
- 2020: $181 million
- 2021: $264 million
- 2022: $276
- 2023: $283
Last year Arkansas voters rejected an initiative that would have legalized recreational marijuana. However proponents have vowed to move forward with the new measure they hope to place on the 2024 general election ballot.
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