First-Month Cannabis Sales in Maine Reach $1.4M

Adult-use cannabis shops in Maine sold $1.4 million worth of cannabis during their first month despite supply shortages and in-store purchase limits.

Full story after the jump.

Adult-use cannabis sales in Maine reached $1.4 million in their first month, averaging about $66 per transaction, the Portland Press Herald reports. The inaugural month was limited by supply shortages and in-store purchase limits.

Since recreational sales commenced October 9, six dispensaries have been licensed, reporting 21,194 sales worth $1,409,442 through November 8, according to Maine Office of Marijuana Policy (OMP) figures outlined by the Press Herald. The state received about $141,000 in tax revenues from the sales.

Flower accounted for about 76 percent of sales, with an average price of $16.67 per gram. Concentrates comprised 14 percent of sales while edibles – which were is short supply – made up the final 10 percent of sales.

Mark Humphries, owner of Northland Botanicals, said his average sale was about $70 until two weeks ago when he got his first delivery of edibles. He said edibles now make up about half of his sales and his average sale is closer to $90.

The report notes that, based on first-day sales in the state of nearly $100,000, sales were on pace to hit $2.9 million during the first month but supply shortages limited some shops’ hours and the coronavirus pandemic has led to many job losses in the state.

Erik Gundersen, director of the OMP, told the Press Herald that retailers showed a “commitment” to “enact COVID protocols to ensure a safe launch.”

“While it is easy to focus solely on the numbers, it is important to note that the Office of Marijuana Policy’s primary objective is maintaining the high standard of public health and safety we have set for the adult-use program.” – Gunderson via the Press Herald

Maine had the slowest recreational cannabis market rollout of any state that has approved the reforms – almost four years – due to legislative rewrites, vetoes by the former Republican governor, and the pandemic.

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