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Sales In February were Even More Impressive, With The State Generating $126 Million In Marijuana Purchases compared To February 2016’s $92.7 Million.

Colorado is on track to have record-breaking marijuana sales in 2017. During January and February, Colorado racked up $235 million in total marijuana sales, a 30 percent spike compared to the state’s recreational and medical pot sales during the same time in 2016, according to a report by Cannabis Benchmarks, a company that tracks marijuana sales and prices, released by Marijuana Business Daily Monday. A variety of medicinal marijuana buds in jars are pictured at Los Angeles Patients & Caregivers Group dispensary in West Hollywood, California on October 18, 2016. Colorado sold $235 million worth of pot in January and February of 2017, according to a report released on April 24, 2017. Mario Anzuoni/REUTERS With Colorado’s booming cannabis tourism and its city streets filled with pot shops selling medical and recreational weed products, marijuana sales across the state kicked off 2017 at full speed. Within the first month of the year, Colorado sold $109 million worth of marijuana products in medical and recreational markets, a more than 38 percent increase from what the state saw in January 2016, when pot consumers purchased $88.5 million in cannabis products. Sales in February were even more impressive, with the state generating $126 million in marijuana purchases compared to February 2016’s $92.7 million. Altogether, the U.S. pot industry grossed over $6 billion in marijuana sales medical marijuana  in 2016, $1.3 billion of which was generated from sales in Colorado. The report said wholesale weed prices were down 33 percent overall, so Colorado customers could be using the reduced-priced pot as a means to stock up.

To read more visit http://www.newsweek.com/marijuana-legal-states-sales-colorado-2017-590481

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