John Schroyer
Maryland cannabis companies sold a total of $87.43 million worth of both medical and recreational marijuana goods in the market’s first month of adult-use sales, according to state figures.
Between July 1-30, according to a breakdown from the Maryland Cannabis Administration, dispensaries sold:
- $51.1 million in flower
- $22.1 million in concentrates
- $6.3 million in edibles
- $4.8 million in infused non-edible goods
- $554,104 in shake
- $3,535 in marijuana plants
The sales numbers are just over double the $42.6 million sold by Maryland dispensaries in the month of June, when the market was still only medical cannabis, according to state data.
Meanwhile, the average price per gram skyrocketed by 47% between November and July, the Baltimore Business Journal reported, from $6.29 to $9.27.
That’s running counter to the national wholesale marijuana market, the Journal noted, citing statistics from Cannabis Benchmarks, which put July wholesale prices at a national average of just over $1,000 per pound.
Wholesale cannabis prices in Maryland are around $2,000 per pound, SunMed Growers’ CEO told the Journal, which is up significantly from 2022. The company said it’s not expecting any supply shortages or inventory disruptions due to demand.
There could also be another sales bump in coming weeks because many of the state’s medical marijuana patients stocked up before the adult use sales began July 1, so they could avoid crowds, the Journal reported.
