Connecticut Cannabis Sales Approach $25M In October While Still Mulling Home Cultivation

  • Connecticut's cannabis sales figures for October 2023 totaled nearly $25 million, reported the Department of Consumer Protection.
  • Adult-use cannabis contributes over $14.7 million and medical marijuana added over $10.1 million, a testament to continued demand.
  • Product distribution statistics highlight that 51 percent of sales were in the form of usable cannabis (flower), while vapes and edible products constituted 31 percent and 11 percent, respectively.
  • Medical marijuana patients purchased 277,552 products, with an average price of $36.43, while adult-use consumers acquired 393,642 products at an average price of $37.61.

Setbacks In Homegrown Cannabis Task Force Formation

Connecticut is struggling to set up a Task Force to study the impact of authorized cannabis sales and retail events mandated by the 2023 omnibus cannabis law, reported Marc Fitch for local media.

Under current laws, private citizens can cultivate up to six cannabis plants at home but are barred from selling their yield.

The task force will investigate the impact of allowing individuals authorized to cultivate cannabis at home to sell their products at events organized for such sales.

Advocates propose a tiered licensing system for home growers, emphasizing the inevitability of cultivators wanting to share their product with the community.

Concerns about safety and potential underage access to homegrown cannabis at off-site events have been raised. Despite a looming January 2024 report deadline, the 13-member task force is yet to be appointed, raising concerns about meeting statutory obligations.

In addition, Connecticut has yet to appoint a mandated cannabis ombudsman by the Office of the Healthcare Advocate.

Photo by Markus Spiske on Unsplash

Market News and Data brought to you by Benzinga APIs

Posted In:

Cannabis is evolving—don’t get left behind!

Curious about what’s next for the industry and how to stay ahead in today’s competitive market?

Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.

Secure your spot now before prices go up—this is where the biggest deals and connections happen!

Get your tickets today!

Comments
Loading...