Sales of Recreational Marijuana in Colorado Continue to Climb

Smoke On The Black BackgroundSales of recreational marijuana in Colorado continued to climb this summer, according to data from the state's Department of Revenue.

Sales reached $34.1 million in August, up from $29.3 million in July.

Medical marijuana sales also increased in August, to $33.4 million, after several months of flat or decreasing sales, The Washington Post reports.

Medical marijuana is taxed at a lower rate than recreational marijuana, resulting in large price differences between the two, the article notes.
Tax revenues from both recreational and medical marijuana totaled $7.5 million in August. So far this year, Colorado has collected about $45 million in taxes from marijuana sales, the article notes.

In July, the Colorado Department of Revenue's Marijuana Enforcement Division reported that marijuana use in the state has been much higher than expected. While only about 9 percent of state residents use the drug, they are likely to use 121.4 metric tons of marijuana annually.

The report found the estimates are 31 percent higher than a recent state assessment. The study found about 21.8 percent of people using marijuana do so almost daily, and account for almost 70 percent of total marijuana demand. Nationwide, about 17 percent of adults use marijuana almost daily.

 

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Friday, 22 June 2018
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