New data from the State of Oregon sales of Cannabis rose 24.1% with new strength in 2019 despite the vape crisis that hit in the Fall. Decline in consumer prices continue to be below 2017 even though prices are rebounding. Low prices can reinvigorate sales. Oregon demand made up for prices changes.
2017 sales $452.4 million according to OLCC. 2018 rose slightly more than anticipated to $548.5 million and 2019 had amazing $725.8 million in sales. these numbers don’t even reflect state’s medical marijuana program. States MM program have had decline in numbers which steadily stay between $60-70 million over the last three years.
Oregon took in a $184.3 million in cannabis tax revenue, smashing the projected 2015 number of $62.4 million. All due to recreational sales. Oregon’s Marijuana tax is still below other states at 17% and many know that if we raise the tax to match other states we can significantly increase the Tax Revenue for Oregon.
Written by Marie