(Photo credit: Brian Breneman).
Oregon’s legal marijuana market sold $77,304,123 worth of products in May, bringing the state’s year-to-date total to $374,549,170. The new monthly total pushes Oregon’s all-time legal marijuana sales to approximately $8.49 billion.
May’s sales total was slightly below April’s $77.7 million, but remained in the same range, signaling continued stability in Oregon’s mature marijuana market. The average price of dried marijuana flower rose slightly from a record low of $3.17 per gram to $3.33 per gram in May. Marijuana concentrates, meanwhile, remained at $15 per gram, matching the record low the category has held for three straight months.
The continued low pricing highlights the level of competition in Oregon’s mature marijuana market, where consumers continue to see some of the lowest average prices in the country. Even with the slight increase in flower prices, May’s average remained far below the prices seen during the early years of legal sales, with prices averaging over $10 per gram for flower in 2016.
Oregon voters legalized recreational marijuana in November 2014 through Measure 91, with the first legal adult-use sales beginning Oct. 1, 2015, through existing medical marijuana dispensaries. The state later transitioned into a regulated licensing system for adult-use marijuana businesses.
Under Oregon law, adults 21 and older may possess up to 2 ounces of marijuana in public and up to 8 ounces at home. The state imposes a 17% marijuana tax, with local governments allowed to add up to 3%, bringing the maximum tax rate to 20%.
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