Oregon’s legal marijuana industry generated over $80 million in sales in July, bringing the yearly total to well above $500 million.
The $82,186,496 in legal marijuana sold in July marks an increase from June’s $79,854,131. This is according to data compiled and released by the Oregon Liquor and Cannabis Commission. Monthly sales have remained above $75 million consistently since February 2023.
Since the start of legal marijuana sales in October 2016, the total sales have climbed to $6.785 billion, contributing $1.2 billion in tax revenue. So far in 2024, the state has seen sales of around $562 million, generating close to $100 million in taxes.
Oregon was the third state to legalize recreational marijuana in 2014, following Colorado and Washington’s lead in 2012. The law permits individuals aged 21 and over to possess up to two ounces of marijuana in public and eight ounces at home. Additionally, one ounce of marijuana extracts, 16 ounces of marijuana-infused solids, and 72 ounces of marijuana-infused liquids are allowed. Licensed retailers can sell marijuana products to anyone aged 21 and older.
Oregon’s marijuana tax rate is set at 17%, with some localities adding up to an additional 3%. The revenue generated from these taxes is distributed to various state funds: 40% goes to the State School Fund, 20% to mental health and treatment services, 15% to the State Police, 20% to local law enforcement, and 5% to the Oregon Health Authority for drug treatment and prevention programs.
In July, the average price trends for marijuana products showed some slight changes. The price of dried flower slightly decreased to $3.78 per gram, while the average price of concentrates saw a modest rise, reaching $16.33 per gram.
