Oregon Marijuana Sales Pass $75 Million in February

In February, licensed marijuana stores in Oregon reported sales totaling $75,924,693, according to the Oregon Liquor and Cannabis Commission.

This figure is consistent with the $75.6 million in sales from the previous month, and it represents an increase of over $3 million compared to February 2023. Multnomah County led in marijuana sales for February with $16.9 million, followed by Malheur County with $8.1 million and Washington County with $8 million.

Since the first recreational marijuana store opened in October 2016, total marijuana sales in Oregon have reached $6.377 billion, resulting in over $1 billion in tax revenue.

The average price per gram of dried marijuana in February saw a slight increase, from $3.89 in January to $3.92. The average price of marijuana concentrates remained the same for the third straight month at $16 per gram. When the first retail outlet opened in 2016, the average cost per gram of marijuana was $10.50, and the average cost per gram of marijuana concentrates was $45.

Based on Oregon’s 17% marijuana excise tax, the state collected around $12.5 million in taxes from marijuana sales in February. This does not include taxes garnered from the up to 3% citywide tax implemented by some localities.

Oregon voters legalized recreational marijuana in 2014, two years after Colorado and Washington became the first two to do so. The law allows those 21 and older to possess up to two ounces of marijuana in public and up to 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.

In 2023, total marijuana sales in Oregon surpassed $950 million.

Thank you for reading The Marijuana Herald!