Cannabis sales in Connecticut reached $359,130 during the first day of the market’s rollout, according to Department of Consumer Protection data outlined by CT Insider. In all, there were seven dispensaries operating throughout the state on Tuesday, the first day of adult-use cannabis in the Constitution State.
Consumers were reportedly met with prices higher than those in neighboring Massachusetts. A review of online pricing found a 100-milligram package of gummies at a Stamford dispensary cost $40 before tax, while a similar product also containing 100 milligrams of THC cost $25 at the company’s Rowley, Massachusetts dispensary. Insider also found similar products cost $25 at a New Jersey dispensary and $35 at a Rhode Island dispensary.
New adult-use cannabis markets usually roll out with higher-than-average prices but prices often come down and stabilize as the market matures.
Most Connecticut dispensaries were selling 3.5-gram containers of flower for $50, which usually cost about $5 less at Massachusetts retail shops.
Adam Wood, president of the Connecticut Cannabis Chamber of Commerce, told Insider he expects that “prices will fluctuate” as supply and demand change. Currently, there are just four licensed cultivators in the state. Wood estimates as many as 30 to more than 40 cultivators could receive state licenses.
Get daily cannabis business news updates. Subscribe
End
