The average cost of medical cannabis in Arkansas fell to $4,545 per pound in June, down from $5,466 per pound in 2022. Additionally, dispensaries in the state sold about 5,149 pounds of medical cannabis in June, an increase from the 2022 monthly average of 4,212 pounds.
Arkansas Medical Cannabis Sales Rising; Prices Per Pound Falling
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The price of medical cannabis in Arkansas was $4,545 per pound in June, down from an average of $5,466 for all of 2022, according to Arkansas Department of Finance & Administration (DFA) data outlined by Arkansas Business. In 2021, the average price per pound was $6,565, the report says.
In 2022, medical cannabis dispensaries in Arkansas sold an average of 4,212 pounds of cannabis per month; in June, they sold 5,149. Under Arkansas’ medical cannabis law, the number of dispensaries is limited to 40.
A report in April found that medical cannabis sales in Arkansas during the first quarter of the year were up 7.14% compared to the same quarter of 2022, according to DFA data.
In 2022, medical cannabis sales in Arkansas reached a record high of $276 million, which is 4.3% higher than 2021’s total of $264 million. Sales this year are on track to surpass the totals of both 2021 and 2022, having surpassed $140 million through the first six months of this year, according to state data outlined by Talk Business & Politics.
As of August 19, there were 93,524 active medical cannabis patients in Arkansas, according to DFA data. That total is down from the 93,862 active medical cannabis ID cardholders in the state reported by the state in June.
Last November, Arkansas voters rejected a ballot measure to legalize adult-use cannabis by a 56%-44% margin.
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