Colorados Young Marijuana Industry Reeled In $1.3 Billion In Sales In 2016 , A Year That Included A Spate Of Record-setting Summer Monthly Totals.

Its also the fifth consecutive month that medical sales have seen a drop. Medical marijuana sales in the state have steadily declined since colorado marijuana setting a yearly high of $41.4 million last August, Cannabist tabulations show. As of Dec. 31, 2016, there were 94,577 active patients on Colorados medical marijuana registry, according to Colorado Department of Public Health and Environment data. That was down from 100,503 patients in November, 102,914 patients in October and 107,554 patients in December 2015. As recreational pricing falls to the same level as medical pricing especially for the 1 ounce quantity the benefit of using medical dispensaries is falling to zero, Miles Light, an economist, wrote via e-mail to The Cannabist. Light is also the co-founder of the Denver-based Marijuana Policy Group, an economic, financial and policy research and consulting firm focused on the marijuana industry. The monthly sales equate to $17.7 million in revenue to the state from taxes and licensing fees, according to the Department of Revenue report. Colorados young marijuana industry reeled in $1.3 billion in sales in 2016 , a year that included a spate of record-setting summer monthly totals. Economists have said its likely that the industry could outdo itself again this year , but extending those sales gains beyond 2017 would be challenging. Related Articles March 2, 2017 Longmont to consider partial repeal of medical, recreational pot sales ban By 2018, the medical or recreational marijuana programs could be up-and-running in some or all of the eight states that voted in November to legalize.

To read more visit http://www.denverpost.com/2017/03/10/colorado-marijuana-sales-january-2017/

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