Business

Colorado Marijuana Sales Experience Rare Drop in June

Jacqueline Collins
For just the second time in eight years, Colorado marijuana sales fell in June.

Although June sales typically benefit from a summer jump in dispensary action, this June's marijuana sales totaled just under $187.3 million, according to the state Department of Revenue, a 3.5 percent drop from May and 9.2 percent lower than April's sales.

Both medical and recreational marijuana sales dropped month over month from May to June, according to the DOR. Recreational sales were responsible for bringing in $152.7 million, while medical sales reached $34.5 million.

On top of seeing decreasing sales for two months straight, Colorado dispensaries also experienced a 5.8 percent dip in comparison to June of 2020, when pot shops collected almost $199 million, DOR data shows.

A recent economic forecast from the Governor's Office of State Planning and Budget had estimated that state tax revenue from marijuana in 2021 would be about $2.8 million lower than predicted in March (though that forecast still predicted that both fiscal years 2020-21 and 2021-22 would see overall growth). The forecast cited increasing retail prices and supply fluctuation as potential reasons for a shift in sales numbers.

Despite the drop in sales for two months straight, this year's total of $1.15 billion in sales through June still puts Colorado on track to break last year's record-breaking total of $2.19 billion. Through June, marijuana taxes and fees have also accounted for over $217 million in state tax revenue, according to DOR data.
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Colorado Department of Revenue
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Thomas Mitchell has written about all things cannabis for Westword since 2014, covering sports, real estate and general news along the way for publications such as the Arizona Republic, Inman and Fox Sports. He's currently the cannabis editor for westword.com.
Contact: Thomas Mitchell