In December, Rhode Island experienced a surge in recreational marijuana sales, surpassing previous records with over $7.8 million in adult-use transactions. Additionally, medical cannabis sales contributed $2.4 million. The entire year of 2023 witnessed a staggering $100 million in legal marijuana sales in the state, with adult-use consumers accounting for approximately two-thirds of this total.
The state’s Department of Business Regulation (DBR) reported that out of $107.8 million in total cannabis sales for the year, $74.2 million came from adult-use, while medical sales accounted for $33.6 million. Notably, December’s combined medical and recreational sales reached a peak of $10.2 million, a notable jump from the previous high of $9.7 million in August.
Popular products in December included marijuana edibles, prerolls, vape carts, and prepackaged cannabis flower. However, some categories like concentrates, infused prerolls, and tinctures saw a decline in sales. The DBR’s data provides further insights into these trends.
The average transaction in December was priced at $26.12, slightly higher than November’s $25.21 but lower than January’s $31.01. Rhode Island Governor Dan McKee highlighted the state’s success in its first year of legal adult-use sales, which totaled $105.0 million, with $70 million from adult-use alone.
Despite the success in adult-use sales, medical marijuana sales have been declining throughout the year. As 2023 ended, industry advocates proposed amendments to the state’s marijuana law, focusing on social equity applicants and expanding the social equity fund.
Regulatory authorities are also working on refining social equity eligibility criteria using state and federal data. Following a discrepancy in sales figures reported earlier, Rhode Island officials corrected the numbers, ensuring accurate reporting of the sales since the initiation of the adult-use market in December 2022.
On a different note, Rep. Brandon Potter is advocating for the legalization of psilocybin mushrooms, emphasizing a non-commercial approach focused on care options rather than economic gain.
OTHER NEWS: Rhode Island Launches Digital Applications for Medical Cannabis Patients
