Colorado Marijuana Sales Over $4.2 Billion Since 2014
The sale of marijuana has seen staggering growth since being legalized in Colorado in 2014. At the end of October, sales surpassed $4.2 billion. Pot is now generating over a billion dollars in sales annually.
The Colorado Department of Revenue released cannabis sales information from 2014 through October 2017 which shows the incredible increase in sales are due almost exclusively to recreational and not medical sales.
The report shows medical sales have remained relatively steady at $420-$480 million per year, while recreational marijuana sales skyrocketed from $683 million in 2014 to $1.3 billion in 2016.
Monthly sales in 2017 have ranged from a low of $106.6 million in February to a high of $138.4 million in August. By the end of 2017, it is likely marijuana sales will be near $1.5 billion.
With marijuana sales over a billion dollars last year, the US Department of Agriculture reports 2016 sales of other commodities in Colorado - wheat $329 million, hay $545 million, corn $569 million, and milk $655 million.
Yes, marijuana sales were double that of milk last year, but it's probably not a good comparison since a gallon of milk weighs 8.6 pounds and sells for about two cents per ounce versus pot which, for comparison purposes only, sells for around $200 per ounce.
Personally, since among other things I'm on a really tight budget, I'll stick with milk and foods with corn and wheat to support Colorado's commodity economy. They're a great way to curb the munchies of a non-user which I typically refer to as hunger pangs.
Additional Source: KRDO