Connect with us

Marijuana Business Daily

Michigan sets record with $295.4 million in monthly marijuana sales

Published

on


Michigan marijuana retailers sold $295,412,252 worth of medical and recreational cannabis in August, setting a new monthly record.

The previous record was set in March, when total sales hit $288,843,279, according to MJBizDaily’s analysis of the latest data released by the Michigan Cannabis Regulatory Agency (CRA).

ADVERTISEMENT

Sales in August were up 2.7% over July, when retailers reported $287,743,072 in total sales.

Medical marijuana sales accounted for less than 1% of total regulated cannabis sales in August, according to MJBizDaily analysis.

August marked the third-consecutive month of increasing sales in the state.

Michigan retailers in August also broke a monthly record for selling 100,894 pounds of flower, Cannabis Business Times reported.

Meanwhile, the average price per ounce of flower was $80.14, a near-record

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Oregon voters approve pro-labor change to state cannabis law

Published

on

By


Voters in Oregon appear to have approved an organized labor-friendly change to state cannabis law that’s had mixed results in other states.

With more than 80% of ballots counted, 55.7% of state voters cast yes ballots on Measure 119, which will require cannabis operators in the state to submit a “labor peace agreement” to regulators before receiving or renewing business permit, Oregon Public Broadcasting reported.

ADVERTISEMENT

The voter initiative’s main sponsor was the United Food and Commercial Workers (UFCW) Local 555, which spent more than $2.8 million on the campaign after a failed attempt to impose a labor peace agreement (LPA) requirement through the state Legislature.

Several other states, most notably California, require cannabis businesses to have an LPA as part of licensing

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Infused beverages lead marijuana product sales spike on Election Day

Published

on

By


Marijuana product sales jumped nearly 6% on Election Day compared to the previous three Tuesdays, according to Seattle-based cannabis industry analytics provider Headset.

Nearly every product category experienced an increase in sales in the 15 regulated U.S. marijuana markets tracked by Headset.

ADVERTISEMENT

THC-infused beverages were the product of choice for many cannabis consumers on Election Day; sales in that category jumped 14.2% on Tuesday, the biggest increase in any segment.

Beverages typically account for 1% or 2% of retail sales, although infused beverage sales spike during the holidays, when social gatherings increase, according to Headset Data Analyst Mitchell Laferla.

“In 2024, the Beverage category saw the largest spike in total sales across all categories on 4/20, 4th of July, and Labor Day,”

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Republican lawmakers will get chance to prove whether GOP is good for cannabis

Published

on

By


Is Republican control of the U.S. government better for marijuana reform than a Democrat-led administration, and have statewide adult-use cannabis legalization efforts simply maxed out?

After the GOP’s decisive nationwide victory on Tuesday sent former President Donald Trump back to the White House – and delivered control of the Senate to Republicans – the $32 billion U.S. legal marijuana industry is about to find out.

ADVERTISEMENT

Three decisive defeats for adult-use legalization on Election Day mean reform efforts are likely to shift away from individual states and toward Washington, D.C., where Democratic lawmakers have traditionally been more consistent backers of marijuana bills.

There, advocates will have to present a newly united front if they hope to win over conservative lawmakers.

“This is not the

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media