“The legalization of cannabis in Arizona has been a boon for our economy and the state tax coffers.” By David Abbott, Arizona Mirror Medical marijuana sales in Arizona continued to slide in March, dropping for the fifth consecutive month as recreational adult-use cannabis sales soared to new heights. The Arizona Department of Revenue also revised February sales upwards by several million dollars. In March, medical marijuana dipped to below $50 million for the first time since recreational sales began in January 2021, registering just $49.4 million. Medical sales peaked at nearly $73 million in March 2021, then fluctuated from the mid-$60 millions for the next six months. Since October, medical marijuana sales have dropped by at least $1.5 million every month. Recreational sales have rebounded after a small lull in January 2022, going up at least $2 million per month in February and March, which totaled $72.3 million alone. Total sales for both programs in March were $121.8 million. State tax analysts also revised February sales: Estimated medical sales were adjusted upward by $1.2 million to $53.7 million, while adult-use cannabis sales clocked in at $2.3 million more than previously believed, landing at almost $71 million.
Marijuana Moment, Marijuana Moment, 05/16/2022 13:52:00