Connecticut marijuana retailers recorded $22,123,617 in total sales in February, with $16,232,103 from adult-use purchases and $5,891,514 from medical marijuana transactions.
A total of 617,747 marijuana products were sold last month, including 439,698 for recreational consumers and 178,049 for medical patients. This marks a slight increase from the 606,000 products sold in February 2024, even though overall revenue dipped slightly from the $23 million reported during the same period last year.
The average price per gram of marijuana in Connecticut continued its downward trend, reaching $10.58 in February. This represents a 13% drop from the $12.28 average recorded a year ago. However, prices remain above the low of $9.68 per gram record in September 2023.
Connecticut legalized marijuana in 2021, with retail sales launching in January 2023. Individuals 21 and older may purchase and possess up to 1.5 ounces in public and store up to five ounces at home. Home cultivation is also allowed, with residents permitted to grow up to six plants per household, with a maximum of three mature plants at any given time.
Marijuana sales are subject to a 6.35% state sales tax, in addition to a THC-based excise tax. The excise tax is applied at rates of $0.00625 per milligram for cannabis flower and plant material, $0.0275 per milligram for edibles, and $0.009 per milligram for other cannabis products.
The $22.1 million in legal marijuana sales in February represents revenue that, if marijuana were not legal, could have gone to the black market, potentially funding violent gangs and criminal cartels.
More articles from The Marijuana Herald.
