The average daily sales of marijuana are increasing in Ohio – MEDCAN24

Crain’s Cleveland Business has given permission to republish this story. 

According to the Division of Cannabis Control, legal cannabis sales in Ohio totaled over $77.8 millions in February, including $55.7 in sales for adult use and $22.1 in sales for medical purposes.

This figure represents the average number of sales each day, but the real significance lies in the increasing number.

The sales activity is usually weaker during the week, and more active on weekends.

According to Crain’s, a Crain’s analysis of DCC sales data in February, the combined recreational and medical sales averaged more than $2.78 per day.

This is almost as high as the daily average of sales recorded during August when adult-use was introduced in California. Total sales that month between Aug. 6 — the first day of adult-use — and Aug. 31 eclipsed $75.6 million.

The prices were higher than usual in August. This means that dispensaries had to sell more products in order to achieve these numbers.

This activity also follows a strong January for the industry. The total sales of cannabis in the 35-day reporting period (Dec. 29, through Feb. 1,) exceeded $93,000,000, or $2.66,000,000 per day.

This sales data shows that the market is growing as more retailers become licensed and awareness increases.

The state currently has 135 dispensaries that are dual-purpose, with 83 of them having provisional licenses. (Provisional licenses serve as a preliminary step to obtaining the certificate of operation a retailer must have before selling their products).

DCC reported that, in terms of retail prices, cannabis flowers cost an average of $26.59 for a tenth ounce of the flower and $9.40 for a gram during the August first week. The average cost of manufactured products is $31.06

As of the last week of February, however, prices on average for cannabis flower stood at $19.81 per one-tenth of an ounce — a 25% decrease since early August — and $7 per gram, according to DCC. On average, manufactured products cost around $28.46.