Missouri marijuana retailers set monthly sales record at $124.7 million in March

Missouri marijuana retailers set another monthly sales record in March with $124.7 million in adult-use and medical cannabis transactions.

The March total included $108.7 million in adult-use sales, which is the highest since the first recreational stores opened in January 2023, according to the Missouri Department of Health and Senior Services.

It’s also the highest since adult-use retailers reported $106.4 million in sales in December.

MMJ sales in March totaled $16 million, also the state’s highest figure since December.

If the trend holds, annual sales in Missouri are on pace to break the cumulative total of $1.3 billion in 2023 for recreational and medical cannabis.

In all, more than $2.29 billion worth of adult-use and medical marijuana has been sold in Missouri.

The state’s voters legalized adult use in November 2022 and quickly moved to launch sales at existing medical marijuana dispensaries.

Sales have been robust and the steady increase is in line with MJBizDaily projections, though customers transitioned to the adult-use market from medical more quickly than expected.

The latest strong sales showing comes ahead of a planned expansion in the state market that’s encountered some hiccups.

More microbusiness licenses are slated to be issued to small businesses, although state regulators have revoked nine out of the 48 permits issued last fall after determining applicants were ineligible.