Colorado marijuana sales have been on a sharp decline over the past year, and April marked the 11th month in a row for the downward trend.
According to a report from the Colorado Department of Revenue, marijuana sales have declined to $153 million in April 2022, a 5% dip from March and 25% lower than April 2021.
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Recreational sales totaled $131 million and medical marijuana $21.3 million, the department noted.
The latest market data showed $611 million in cannabis sales for the first quarter of 2022, a 20% drop compared to the first quarter of 2021 but a 4% increase compared to the same quarter in 2020.
In March, Colorado marijuana stores and dispensaries sold $162.5 million worth of cannabis.
Declining sales and more stringent purchase limits contributed to the recent closure of all seven retail stores in the Denver-based Buddy Boy chain.
Read full article on Marijuana Business Daily
