Illinois Marijuana Sales Boosted by New Shop in January

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Numbers most likely show brand-new shops opened up considering that even more licenses were provided in 2015.

This tale was republished with authorization from Crain’s Chicago and also composed by John Pletz

Illinois cannabis sales began the brand-new year with their best development in 7 months.

Leisure marijuana sales climbed 9% in January from a year previously to $127.9 million, according to the Illinois Division of Financial & & Expert Policy. That’s the best year-over-year development considering that June, when cannabis sales enhanced 10%.

The numbers most likely show the opening of a handful of brand-new dispensaries as component of the 192 brand-new retail licenses that were granted in 2015.

Prices remains to deteriorate, as it has throughout the market, although Illinois is standing up much better than many since there are less shops open. Wholesale cannabis rates are down 30% year over year, according to Cantor Fitzgerald expert Pablo Zuanic.

The variety of items offered in Illinois in January climbed 16% from a year previously, overtaking the 9% profits development, according to state information.

The percent of sales to out-of-state locals is under stress. In January, out-of-state sales were 28.2% of overall profits, below 30.1% a year earlier and also 28.8% in December.

General the state’s marijuana sales were off 11% from December, which is generally the best month of the year for cannabis sales.

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