Missouri Medical Cannabis Sales Top $70M Sales Since October 2020

JEFFERSON, Mo.– Missouri’s medical cannabis dispensaries sold nearly $16.4 million worth of cannabis products in June, bringing the yearly total in the state to more than $70 million.

That’s according to the Missouri Medical Cannabis Trade Association. The total number of sales is $70,328,681, as originally reported by the Missouri Department of Health and Senior Services.

Medical cannabis sales in Missouri launched in October 2020, and 126 dispensaries are now selling cannabis across the state, according to TV station KHQA.

A total of 201 medical cannabis businesses, including manufacturers, laboratories and transporters, operate in Missouri.

In all, 375 facilities have medical cannabis permits.

The market could reach $225 million-$300 million in sales this year alone, according to forecasts.

Total cannabis sales for May amount to $15.5 million and approximately $16.4 million have been reported for June.

Throughout the state, there are 201 facilities that are waiting to receive state operating approval, including five testing labs, 23 cultivators, and 33 manufacturers of infused products such as cannabis edibles, concentrates, and vape cartridges.

The trade association reports that the Missouri Department of Health and Senior Services has licensed 375 facilities to cultivate, manufacture, test, transport, and dispense medical cannabis to Missouri patients.

“Patient after patient, our members hear every day just how vital Missouri’s medical cannabis program has become in a relatively short time,” said Andrew Mullins, executive director of the Missouri Medical Cannabis Trade Association.

“This remains a summer of lofty expectations, with thousands of new patients each week obtaining their cannabis cards, business owners creating a steady flow of new jobs, and our industry generating millions in new tax revenue for the state thanks to an additional 4 percent sales tax dedicated to the health and care of veterans.”

There are more than 121,000 medical cannabis patients in Missouri with almost 3,700 people who have been issued state agent ID cards to work in medical cannabis facilities, according to the trade association.

The association states that the medical cannabis industry is “expected to generate nearly twice that many jobs, more than $800 million in direct spending and another $570 million in indirect spending over the course of its first full year of sales and operation.”

Under Missouri’s constitution, residents who have cancer, epilepsy, glaucoma, and 20 other conditions, can purchase or cultivate medical cannabis with a physician’s certification.

The law also allows physicians to certify patients under their discretion who have other chronic and debilitating medical conditions.

Highly Capitalized © 2021  Copyright. All Rights Reserved