Licensed marijuana stores in Maine sold over $19 million worth of product in March.
The Maine Office of Cannabis Policy has released updated marijuana sales data showing that there was $19,144,646 worth of marijuana and marijuana products sold legally in March, a modest increase over the $18,014,488 sold in February and an increase of roughly $2.5 million from the sales total for March of 2023.
Marijuana sales in March were spread across 351,096 different transactions, bringing the yearly total to 99,506 transactions. The yearly sales total is $54,720,331.
The average price per gram of dried marijuana in March was $7.31, a $0.01 increase over February and a $0.02 increase over the all-time low of 7.29 set in January.
In Maine, recreational marijuana was legalized in 2016, allowing those who are at least 21 years old to possess up to 2.5 ounces of marijuana, purchasable from any licensed marijuana retail outlet. Due to bureaucratic delays, the first marijuana store didn’t open until 2020.
Under Maine’s marijuana law, marijuana sales are taxed at 5.5%, with an additional 8% excise tax placed on marijuana-infused edibles. Medical marijuana sales are tax-free.
You can find more sales data for Maine’s legal marijuana industry by clicking here.
Earlier this week Maine’s full legislature gave approval to legislation that would establish a psilocybin task force, with one final technical vote required in the Senate before it can be sent to Governor Janet Mills.
