Statewide cannabis sales have held relatively steady at elevated levels in the four months since the launch of Ohio’s adult-use market, according to the latest figures from the Ohio Division of Cannabis Control.
Ohio dispensaries sold a little shy of $74 million in legal marijuana in November (Nov. 3 to Nov. 30), according to DCC data. That includes sales for the period of approximately $47.97 million in recreational products and $25.92 million in medical products.
Recreational marijuana sales for adults 21 and older began on Aug. 6. Dispensaries were selling between $36 million to $37 million in medical cannabis per month over the last few months leading up to that.
In the time since the non-medical market opened up, though, monthly sales have effectively doubled.
Across periods of roughly four weeks in August, September, October and November, combined sales of adult-use and medical cannabis totaled approximately $75.64 million, $71.85 million, $71.66 million and $73.88 million, respectively.
That comes out to an average of more than $73 million for those four months.
These are approximate figures for comparative purposes as DCC’s seven-day reporting periods don’t always start or end neatly at the beginning or end of each month.
With October stretching across five calendar weeks, for example, which includes a few days of September and November — the full reporting period covering October would be from Sept. 29 through Nov. 2 — combined marijuana sales over that span totaled approximately $89.92 million.
While sales have seemingly hit a plateau for now, the fact they’ve generally stayed there for several months instead of decreasing is a promising sign for industry operators who believe there is room to grow from here.
During the first week of December, Ohio officially surpassed $200 million in adult-use sales, according to DCC, while total medical sales (which began in January 2019) have eclipsed $2 billion.
Ohio’s legal cannabis market should continue to benefit as regulatory rules that are still being implemented — and in many cases, still being written — continue to be rolled out.
This includes fifth and sixth rule packages that are still winding their way through the regulatory process, as Andrew Makoski, DCC’s chief legal, explained this month during a panel for the Drug Enforcement Policy Center at The Ohio State University’s Moritz College of Law.
Among those rule packages are guidelines for selling pre-rolls, a product category legalized by Ohio’s adult-use law that composes a sizable portion of some cannabis markets.
According to Headset, a provider of cannabis market data, pre-rolls accounted for more than 15% of all cannabis sales in the U.S. and one-third of sales in Canada in August 2023, for example.
Sales could also see a boost as more shops come online.
Currently, there are 124 dispensaries in the state with dual licenses to sell both rec and medical marijuana. But another 100 more retailers could open as the state awards additional so-called 10(B) licenses.
Other changes could benefit the industry as well, with some likely more impactful than others.
Read more at Green Mountain Report