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Arizona Cannabis Sales Decline in June, July

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Once-a-year profits for the point out are continue to anticipated to match 2022.

Arizona cannabis income have trended steadily downward for most of 2023, hitting rock bottom in July at a mere $77.3 million in adult-use and $26.1 million in healthcare sales, in accordance to studies produced this 7 days by the point out Department of Revenue.

That is the most affordable regular monthly gross sales whole of the year so significantly in one particular of the nation’s leading cannabis marketplaces, down from a peak in March, when Arizona dispensaries marketed $99.9 million in leisure hashish and another $33.2 million in professional medical marijuana. (The point out at first reported much more than $100 million in adult-use income, but that figure was revised downward slightly, the Arizona Mirror reported.)

June was a little greater than July, with $85.2 million in leisure and $27.9 million in healthcare profits.

But it’s a much cry from the 1st quarter of the calendar year, when recreational income ended up routinely topping $90 million for every month and even clinical income hovered all-around $30 million.

Over-all it is now more apparent why firms this kind of as Cresco Labs (CSE: CL) (OTC: CRLBF) and other multistate operators have deserted the southwestern sector, offered the apparent slide in full gross sales via the yr.

The whole for 2023 hence significantly is just underneath $1 billion in cannabis product sales, with $714 million in recreational and $241 million in medical.

With August and September income nonetheless to be described, Arizona is still anticipated to match its 2022 annual revenue of $1.4 billion by the finish of 2023, the Arizona Mirror projected.

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