There was $17.5 million in legal marijuana sold in Maine in January, as prices continue to drop.
According to the state’s Office of Cannabis Policy, licensed marijuana stores sold $17,518,326 worth of marijuana and marijuana products such as edibles and concentrates. This is a modest dip from the $19.3 million sold in December, but an increase over the $14 million sold last January.
In total there was 320,917 different marijuana transactions in the state, which has a population of roughly 1.3 million people.
The average price per gram of dried marijuana reached a new all-time low for an impressive fifth straight month. The new average is $7.29, a $0.05 drop from December and a $0.75 drop from last January.
Recreational marijuana was legalized in Maine in 2016, with the first marijuana store opening in 2020. The law allows those who are 21 and older to possess up to 2.5 ounces and grow up to six plants.
Under the voter-approved law, marijuana receives a 5.5% general sales tax, with an 8% excise tax placed on marijuana-infused edibles. Medical marijuana products are exempt from both taxes.
You can find more sales data for Maine’s legal marijuana industry by clicking here.
In August Maine Governor Janet Mills signed into law a bill that allows licensed marijuana businesses to take tax deductions equal to the amount they could take federally if they weren’t distributing a federally illegal substance.
More articles from The Marijuana Herald can be found below.
