The Pattern of Rising Colorado Retail Hashish Gross sales in
the Summer time Months Exceeds Earlier Years’ Efficiency
The Colorado Division of Income
(CDOR) not too long ago launched its month-to-month Marijuana Gross sales Report for June 2019. Total
retail demand elevated as soon as once more, with cumulative gross sales by adult-use
storefronts and medical dispensaries reaching a brand new file excessive for the state’s
market, along with adult-use revenues doing so on their very own. In the meantime,
wholesale excise tax collections counsel contracting buying and selling and switch
quantity in June, maybe reflecting tighter provide within the face of persistently
sturdy gross sales. The present upward development displayed by Colorado’s Spot Index
commenced in June.
In June, mixed retail gross sales of
adult-use and medical cannabis totaled over $152 million, up by 6.2% in contrast
to Could’s mixed revenues of over $143.1 million. June’s complete month-to-month gross sales
symbolize a brand new file excessive for Colorado’s marketplace for the second consecutive
month, in addition to the third time such a milestone has been established within the
first six months of 2019.
An uptick in cumulative month-to-month
gross sales from Could to June has develop into customary in Colorado. Nevertheless, the magnitude
by which complete retail revenues elevated this yr is bigger than in prior
ones. In 2016, cumulative month-to-month gross sales rose by 4.5% from Could to June. 2017 noticed
a 4.4% enhance in the identical span, whereas the proportional rise within the interval
beneath dialogue in 2018 was 5.4%.
12 months-to-date retail revenues as of
June totaled over $817.7 million, up by 10.1% from the over $742.three million
documented within the first six months of 2018. Whole gross sales by way of the primary 5
months of this yr have been up by lower than 9% in comparison with the identical interval in 2018,
indicating that the tempo of year-over-year gross sales development in Colorado in 2019
accelerated in June, because it did in every of the 2 months prior.
Grownup-use retailers in Colorado
tallied over $122.three million in June. Revenues from the state’s adult-use sector
in June have been up by 7.7% in comparison with the over $113.6 million in retail gross sales
generated in Could. June’s adult-use gross sales symbolize a brand new file excessive for that
sector of Colorado’s market, topping the earlier peak of over $114.three million
documented in March of this yr. As of June 2019, year-to-date gross sales within the
adult-use sector reached over $652.Eight million, up by 13.2% in comparison with over
$576.9 million in retail income generated by leisure storefronts by way of
the primary six months of 2018.
Medical cannabis revenues in June
got here to over $29.6 million, up by 0.7% from the over $29.Four million in gross sales
tallied in Could in that part of the market. From January by way of June of this
yr, Colorado’s retail gross sales within the medical portion of the market totaled over
$164.9 million, down by 0.4% from over $165.Four million in medical cannabis gross sales
by way of the primary six months of 2018.
Within the wholesale realm, tax
assortment knowledge for July 2019
corresponds usually to wholesale transfers and transactions executed in June
– reveals that the 15% excise tax on wholesale exercise in Colorado’s adult-use
system resulted in over $5.64 million accruing to state coffers. July’s
wholesale excise tax receipts are down by 6% in comparison with tax collections from
the earlier month, which amounted to simply over $6 million.
Common Market Charges (AMRs) used
by the state to evaluate the wholesale excise tax on inside transfers of
flower, trim, and different plant materials between commonly-owned licenses have been
fixed from Could to June (Since August 2017, AMRs are adjusted quarterly by
the Colorado Division of Income (CDOR).) In consequence, it seems that total
wholesale buying and selling and switch quantity in Colorado’s market in June contracted
in comparison with the month earlier than, regardless of sturdy gross sales within the adult-use market in
each Could and June.