Connecticut cannabis sales continue monthly decline in February

Connecticut cannabis sales continue monthly decline in February

At the same time, product prices have risen.

Connecticut’s adult-use cannabis market continues to struggle, with sales declining in February after dipping first in January, according to state figures.

After peaking in December with $27.5 million in combined recreational and medical cannabis sales, the market took a downturn to $24.9 million for the month of January. It fell even further, to $23.6 million, in February, the state Department of Consumer Protection reported.

The February total included $15 million in adult-use sales and $8.6 million in medical sales, down from $15.6 million and $9.3 million, respectively, in January.

At the same time, cannabis prices continued to rise, the DCP reported.

The average price per gram of “usable cannabis” went from a low of $9.51 in August 2023 to $11.93 in January, before breaking the $12 mark in February, at an average of $12.28 per gram, the DCP reported.

The average recreational cannabis product price has increased in the same timeframe, but not nearly by as much, the DCP reported. In August, the average rec product was $39.49, which went up to $40.39 in February.

Medical product prices, by contrast, have decreased over the same period, from $39.36 to $36.82.

The total number of products sold also took a hit, down to 374,061 recreational products and 232,302 medical products in February, from 399,419 and 253,933 respectively.

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