Recreational Cannabis Sales In July Smash Previous Months

PORTLAND, Maine (AP) — Retailers in Maine sold $9.4 million in adult-use cannabis products in July, which is 45% more than the previous month.

Business owners credit the boom to summer tourism, the July Fourth holiday, a larger array of products and falling prices, the Portland Press Herald reported Monday.

Sales for recreational marijuana have increased each month since the market first opened in the state in October last year.

The average price of smokable marijuana, called flower, has fallen from $16.68 per gram at market launch to $12.90 per gram, the newspaper reported. That is largely because more growers and manufacturers have been licensed, leading to greater supply and more diverse products.

Also for the first time, July sales in recreational marijuana essentially matched sales of medical marijuana in the state.

The Maine Office of Marijuana Policy said it collected $943,500 in sales tax revenue from recreational marijuana sales in July and about $3.8 million total since the market opened.