Medical marijuana sales dip in November, year-to-date sales top $250 million

by Talk Business & Politics staff ([email protected]) 601 views 

Arkansas medical marijuana sales totaled $2.56 million in November, down from $2.75 million in November and well below the record of $3.28 million in May 2021, according to the Arkansas Department of Finance and Administration, the parent agency of the Arkansas Medical Marijuana Commission.

The agency reported that $254 million has been spent by year-to-date by patients at the state’s 37 dispensaries. Since the first dispensary opened in mid-2019, patients have spent $486 million to obtain 71,829 pounds of medical marijuana.

More than $54 million in state tax revenue has been collected since the industry launched in mid-2019. Most of the tax revenue is placed in the University of Arkansas for Medical Sciences National Cancer Designation Trust Fund.

Natural Relief Dispensary in Sherwood had the most sales in November with 373.91 pounds sold. The Arkansas Department of Health reports 79,167 active patient cards.

Following are the top five dispensaries with the most medical marijuana sales since May 2019, and the pounds sold in October.
• Releaf Center (Bentonville), first opened Aug. 7, 2019: 7,457.11 pounds; 329.93 pounds in November
• Natural Relief Dispensary (Sherwood), March 17, 2020: 5,541.36 pounds; 373.91 pounds in November
• Green Springs Medical (Hot Springs), first opened May 12, 2019: 5,332.48 pounds; 168.05 pounds in November
• Suite 443 (Hot Springs), first opened May 10, 2019: 4,861.71 pounds; 239.77 pounds in November
• Acanza (Fayetteville), first opened Sept. 14, 2019: 4,339.74 pounds; 163.7 pounds in November

The constitutional amendment legalizing medical marijuana for 17 qualifying conditions and creating a state medical marijuana commission, was approved by Arkansas voters 53% (585,030) to 47% (516,525) in November 2016.

The Motley Fool reports that California posted the largest amount of tax revenue from marijuana sales in 2020. Following are the top five states in terms of 2020 marijuana tax revenue:

California: $1.031 billion
Washington: $469.2 million
Colorado: $387.48 million
Oregon: $133.15 million
Nevada: $105.18 million