Missouri’s medical cannabis sales are just short of Illinois’ two years ago, as the Land of Lincoln prepared to launch legal adult-use sales, according to data released by the respective states’ regulators. Meanwhile, Illinois’ overall cannabis sales have continued the plateau it began in March, when the state’s last new dispensaries came online. Missouri now has 150 operating dispensaries, while Illinois has been legally limited to 110, due to ongoing wrangling in courts over 185 dispensary licenses created by the state.
“Our industry’s exponential growth this past year is testament not only to our members’ resilience but also the strong patient interest driving statewide demand,” said Andrew Mullins, MoCannTrade Executive Director. “Further, our industry has already made its mark on the state’s economy, creating more than 5,000 new jobs while on pace to reach or exceed $200 million in sales this year.”
Meanwhile, Michigan growers have tripled their output in comparison to last year, raising concerns of a major price crash this November, say insiders. Last September Michigan growers reported 226,859 flowering plants. This year, there are 676,081.
Last year Michigan’s cannabis sales in dollars declined due to “Croptober” overages. Every year in Michigan, just as outdoor cultivators bring in their big fall harvest, driving supply up, summer cannabis demand tends to decline, driving a big price decrease in flower. This fall’s flowering canopy is much bigger than last year, outpacing overall demand even more and setting up the possibility of a major price crash by December.