Business
Missouri Marijuana Businesses Have Sold More Than $1 Billion In Cannabis Products In 2023
Missouri marijuana businesses have now sold more than $1 billion worth of medical and adult-use cannabis products so far in 2023, according to new numbers released by the state’s Department of Health and Senior Services (DHHS).
Retailers sold about $95.5 million worth of cannabis products to adults in October, plus another $17.6 million in medical marijuana. While both those represent slight declines from the month before, they brought the state’s total amount of marijuana sold in 2023 to more than $1.1 billion.
Broadly, adult-use numbers have slowly risen since recreational sales began in February, while medical marijuana sales have steadily dwindled. This year has also seen reductions in the number of registered medical marijuana patients, caregivers and patient cultivators.
All cannabis sales since 2020 total a cumulative $1.7 billion, according to DHHS.
The numbers are approximate, because unlike marijuana sales data from most other states, Missouri DHHS rounds the figures to the nearest $100,000.
Of tax revenue received by the state, lawmakers recently announced that $17 million will be used to fund veterans health, drug treatment and legal aid.
Missouri’s marijuana system has also experienced considerable turbulence this year, with tens of thousands of products recalled over the allegedly illegal use of hemp-derived cannabinoids from outside the state. Regulators last week moved to revoke the business license of Delta Extraction, the company at the center of the controversy.
The incident put state marijuana regulators on their heels regarding practices at product testing labs, which had already come under fire earlier in the year over alleged practices of “lab shopping” as producers sought higher THC potency numbers.
Another company, Retailer Point Management, which does business as Shangri-La in Columbia, recently settled a dispute with a union over 15 charges of unfair labor practices.
Meanwhile, lawmakers earlier this month said the state’s marijuana regulators overstepped their authority when setting new rules on product branding and packaging meant to limit appeal to children.
Businesses last month also filed a lawsuit challenging the “stacked” local and county taxes that companies say is unconstitutional.
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