First-Month Adult-Use Cannabis Sales in Maryland Near $85M

Maryland dispensaries sold nearly $85 million worth of cannabis products in July, which was the state’s first month of legal adult-use sales.

Full story after the jump.

First-month adult-use cannabis sales in Maryland totaled nearly $85 million in July, according to Maryland Cannabis Administration (MCA) data. Flower comprised the bulk of the sales – more than $51.1 million. 

Concentrate sales topped more than $22.1 million, followed by infused edibles at more than $6.3 million, infused non-edibles at more than $4.8 million, shake and trim at $554,104, and plants at $3,535.  

In an interview with Forbes, Ben Burstein, a strategist at wholesale cannabis marketplace LeafLink, said that the sales figures put the state on track to see between $700 million and $800 million annually in cannabis sales. If the sales meet those totals, Burstein said it would make Maryland “one of the top-performing markets this year.” 

So far, the MCA has converted the licenses of 95 medical cannabis dispensaries to allow them to serve adult-use cannabis customers, the agency reported last month. State regulators have also licensed 42 cannabis cultivators and manufacturers to produce adult-use cannabis products. 

Data from the MCA and seed-to-sale tracking firm METRC, show that licensed cannabis retailers realized $84.95 million in sales of adult-use cannabis and medical cannabis between July 1 and July 30, the report says. Comparatively, medical cannabis sales last July totaled just over $43 million. 

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