Maine set another record for recreational cannabis sales this year, with sales through November approaching $200 million dollars. That’s nearly $40 million more than all of 2022.
John Hudak, director of the Maine Office of Cannabis Policy, said that growth comes as no surprise, because the industry is still so new.
“The program didn’t get up and running until the middle of 2020. And so people are still transitioning over to the legal market,” he said.
Hudak said an increase in the number of dispensaries in the state is another factor contributing to the high rate of growth.
The average price for a gram of recreational cannabis has fallen about 15% year over year to just under $8.
But he said that poses a challenge to some businesses.
“And those types of decreases in price, while they are appealing to the consumer, can really make it more difficult for businesses to operate. And we’re starting to see that,” he said.
With 219 licensed dispensaries in Maine, Hudak said his office is starting to field concerns that falling retail prices are coming at a time when production costs are increasing.
H/T: www.mainepublic.org
