Cannabis sales in Massachusetts exceed $2 billion

Massachusetts, the U.S. home of Boston, Cambridge, Harvard and the prestigious M.I.T., has just joined a very exclusive club: that of multi-billionaire states in cannabis sales. Visit Bay State has just exceeded $2 billion in sales, according to the figures of the Massachusetts Cannabis Control Commission.

They're certainly not going to stop there. The growth in sales of cannabis flowers, oils and edibles is sustainable and ongoing. The proof? It took the state of Massachusetts two years to pass the symbolic $1 billion mark in sales, in November 2020. To reach the second billion, it took just ten short months.

Going back a few months, the start of the cannabis sales program was quiet. Even very quiet. At the start of legal sales, in November 2018, the news was tarnished by several hiccups, like this grower who received the green light to cultivate cannabis... with no store to sell it to.

Cannabis home delivery

Since then, this new industry seems to have found its stride. New innovations are even boosting sales, such as the authorization of cannabis home delivery, in the summer of 2021. Three companies are licensed to travel the state and deliver to customers' homes, which should enable continued growth.

As for prices, they remain low: $14.17 a gram, or almost 12 euros, including tax. This figure has been stable for over a year, a good signal for consumers. This price obviously includes taxes. 6.25 % of the sale is levied by the State, in addition to 10.75 % in excise duty (a tax affecting tobacco, alcohol, petrol...) and up to 3 % in municipal tax.

Logically, cannabis in Boston and Cambridge is a new windfall for public finances. In the first two years of legal sales, $122 million landed in the state coffers. With new record sales, taxes will also be going through the roof. In Illinois, mandatory levies on cannabis sales have exceeded those of alcohol for the very first time.