Ohio dispensaries sold millions of dollars of recreational marijuana in first month

Recreational marijuana sales in Ohio surpassed $50 million in the month since adults could start buying cannabis, according to new state data.

The Division of Cannabis Control said dispensaries sold nearly $54.6 million in recreational products as of Saturday, about one month after they opened their doors to customers 21 and older. There are 123 dispensaries licensed to sell recreational and medical cannabis in Ohio, and the state is preparing to issue additional licenses for new stores.

The sales covered 6,179 pounds of plant material, or flower, and over 840,000 units of manufactured products, which could include edibles, vapes, drinks and lotions. Regulators don’t track how many purchases come from out-of-state buyers, but Cincinnati has already emerged as a destination for consumers in Kentucky and Indiana.

Medical marijuana patients, who were already wary of the recreational program, have expressed frustration about prices since the adult-use market took off. An ounce of flower cost $253.20 on average last week, while the average sale of manufactured products was $30.51. Both figures marked a slight decline from the first week of recreational sales.

Operators say prices will continue to drop as more dispensaries get online and supply increases. [Read More @ The Cincinnati Enquirer]