In May, licensed marijuana stores in Oregon sold over $80 million worth of product for the third straight month.
According to recent data from the Oregon Liquor and Cannabis Commission, there was $81,976,813 worth of marijuana and marijuana products sold legally in May. This is approximately half a million dollars more than the previous month, and around $2.5 million more than May 2023.
Since the start of legal marijuana sales in October 2016, cumulative sales have now surpassed $6.623 billion, resulting in $1.2 billion in tax revenue. Through May, there has been around $400 million in total sales for 2024, bringing in nearly $70 million in taxes.
Of the $6.6 billion in legal marijuana sold since 2016, over half (53%) was “usable marijuana”, aka dried marijuana flower. 25% was marijuana concentrates, 11% were edibles and the remaining 11% is a variety of other products such as tinctures and capsules.
Oregon legalized recreational marijuana in 2014, becoming the third state to do so after Colorado and Washington in 2012. Under the law, individuals aged 21 and over can possess up to two ounces of marijuana in public and eight ounces at home. Additionally, the law permits possession of one ounce of marijuana extracts, 16 ounces of marijuana-infused solids, and 72 ounces of marijuana-infused liquids. Licensed retail outlets are authorized to sell marijuana products to anyone aged 21 and older.
Recently Oregon’s marijuana prices dropped to an all-time low of $3.60 per gram ofor dried marijuana flower, and $15 per gram for marijuana concentrates.
