Legal marijuana prices and sales figures hit record highs during the COVID-19 pandemic, but began sliding in the second half of 2021.
Jacqueline Collins
After a down year, Colorado marijuana sales are off to an even slower start in 2023, according to data from the stateColorado dispensaries reported slightly under $129.4 million in sales during the first month of 2023, DOR data shows. That's nearly 15 percent less than the $151.1 million sold in January 2022, and more than 30 percent less than the $187.6 million in January 2021.
The drop in sales has led to a decline in marijuana tax revenue, too, with state collections dropping from $423.5 million in all of 2021 to a total of $325.1 million last year. For the first two months of 2023, Colorado has reported slightly over $47.1 million in marijuana taxes and fees, which is more than 20 percent under the $58.9 million accrued in the same span last year.
Legal marijuana prices and sales figures hit record highs in the first year of the COVID-19 pandemic, but began sliding in the second half of 2021. Then the Colorado pot industry hit a full-blown recession in 2022, and the numbers are only getting worse.from 2021 to 2022, hitting a record low since recreational legalization, while medical marijuana sales also saw record lows.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Colorado man given 1% chance of surviving COVID two years ago, close to making full recoveryAfter two years recovering from a severe case of COVID-19, a Thornton man and his family are finally getting back to living a normal life.
Read more »
Indictment of longtime suspect for 2021 murder gives Schertz man’s family hope for justiceAlthough police wrote in April 2021 court documents they were investigating Ethan Beckman for murder, it has taken until this month for him to be formally charged with the crime.
Read more »
2021-2023 Ram 1500 recalled over a rearview camera issue (again) - AutoblogRam recalls the 2021-2023 1500 pickup again over an issue with the trailer steering reverse control module.
Read more »
US Marshals offer reward leading to arrest of Alliance fugitive wanted by ATF since 2021Officials said he is one of the last remaining fugitives of 12 people indicted by a federal grand jury.
Read more »
Hate Crimes Increased Sharply in 2021, FBI Data ShowHate crimes in the U.S. rose sharply in 2021 with victims most commonly targeted because of their race or ethnicity, the FBI said Monday, after earlier incomplete data suggested a decline
Read more »
FBI releases revised hate crime stats showing 12% increase in 2021The original release of the 2021 data was marred by low participation rates by law enforcement agencies across the country.
Read more »