Right here we’re in August of 2022 and hashish retailers in Montana are persevering with to set new gross sales information. Montana’s Division of Income not too long ago launched the hashish gross sales numbers for August. Complete hashish gross sales topped $26.8 million in August alone.
Montana is comparatively new to the adult-use hashish market. The retail market as we all know it at present simply launched in January of 2022. However to date it has been off to a great begin and has continued to see progress all year long.
A Look On the Numbers
Whereas there was solely round a 1% progress in gross sales in August in comparison with gross sales in July it does include a caveat. In the event you have a look at the calendar for July 2022 you’ll discover that there are 5 Fridays and in addition 5 Saturdays within the month. These are historically the 2 greatest gross sales days of each week. So, in essence, it might appear that the July gross sales figures are in all probability a bit of bit inflated in comparison with a standard month.
The hashish gross sales numbers are damaged down into medical hashish and adult-use hashish. In August, medical hashish gross sales accounted for about $7 million in gross sales whereas the adult-use section got here in at $19.8 million. That signifies that the adult-use market accounted for 74% of the overall gross sales. In January of 2022, the adult-use section solely accounted for about 58% of the month-to-month gross sales.
One thing of observe is that solely about half of the counties in Montana are at present even collaborating within the adult-use hashish retail program. Along with that, there are a handful of counties which can be accounting for a considerable amount of the gross sales.
That’s actually not a shock when you think about that Montana as a state solely has round 1.1 million individuals in it. Via August of 2022 Montana dispensaries have bought over $201 million value of hashish. That could be a mixed quantity with medical and adult-use hashish. The adult-use hashish portion of that’s roughly $133 million.
From all of these hashish gross sales in 2022 the state has seen greater than $29 million in tax income.
With just one.1 million individuals in the whole state round 160,000 of these residents will be present in Yellowstone County alone. It’s probably the most populous county within the state and never surprisingly it accounts for probably the most hashish gross sales within the state. In August of 2022 Yellowstone county noticed round $3.2 million in adult-use hashish gross sales and one other $1.3 million in medical hashish gross sales. These figures account for over 16% of the whole hashish retail marketplace for the state in August.
There are additionally just a few different counties which can be serving to to spice up hashish gross sales. Gallatin County recorded round $3.2 million in adult-use hashish gross sales together with $915,000 in medical gross sales.
Different main markets within the state are Missoula and Flathead counties. Missoula hashish gross sales in August had been round $2.7 million for adult-use hashish and $1 million in medical gross sales. Flathead county noticed roughly $2.3 million in adult-use hashish gross sales and a further $700,000 in medical hashish gross sales in August 2022.
Room for Progress
With solely half of the counties in Montana collaborating within the adult-use hashish market, there’s nonetheless room for continued gross sales progress sooner or later.
Starting in September of 2022 there’s a group of counties in Montana that may start incorporating a 3% native tax. This can apply to medical hashish gross sales in addition to adult-use gross sales. The next counties will start this in September: Blaine, Carbon, Deer Lodge, Lake and Rosebud.
Looking to October of this yr there are a handful of counties that may begin the native 3% tax possibility. These counties embody Huge Horn, Lewis and Clark, Powell, Ravalli (adult-use) and Silver Bow.