Arkansas Medical Cannabis Sales Top $28M in 2019

Medical cannabis sales in Arkansas reached $28.13 million since the program launched in May, the Associated Press reports. According to Department of Finance and Administration figures, the state’s 14 dispensaries sold more than 4,200 pounds of medical cannabis in 2019.

In all, state regulators have licensed 32 dispensaries but just 14 were operational this year. Two more are expected to open in Texarkana in the coming days, the report says, while the two dispensaries approved for the capital, Little Rock, are expected to open early next year.

Green Springs Medical Dispensary, in Hot Springs, sold more than 1,000 pounds of the state’s medical cannabis. Owner Dragan Vicentic said the dispensary started selling one rotating product for $5 a gram following patient complaints that they could buy cannabis cheaper on the illicit market than in state-licensed dispensaries.

“Just like Walmart, you’ve got a loss leader. This is just one of those things where we say we’re going to sell one item at cost. We just say we’re going to give back to the people that got us here.” – Vicentic, to the AP

Releaf Center, in Bentonville sold 502 pounds of medical cannabis in the state during the last year; The Source in Benton sold more than 385 pounds; Harvest in Conway sold 261 pounds; and Fort Cannabis in Fort Smith sold just 15 pounds, according to state figures outlined in the report.

Once sales began, Arkansas dispensaries saw steady sales, with the only two functioning dispensaries at the onset selling more than 100 pounds in three weeks. In June, dispensaries reported sales of $2.2 million and by July sales at the state’s eight operational dispensaries topped $6.04 million.