Sales of medical marijuana in Arkansas are off to a robust begin, with sufferers buying greater than 50 kilos of hashish in almost 5,000 transactions within the first week dispensaries have been open.
The initial sales eclipsed these in Ohio, which has almost 4 occasions the inhabitants.
With sales underway, the Arkansas market might develop at a speedy clip, with a number of new dispensaries anticipated to open subsequent month, extra sufferers more likely to register for MMJ identification playing cards, and new license varieties designed to create extra enterprise alternatives.
In addition, the 2019 Marijuana Business Factbook estimates sales in Arkansas will attain $15 million-$20 million in 2019.
Here’s what it’s essential to find out about medical marijuana sales in Arkansas:
- Arkansans bought 52 kilos of hashish over four,787 transactions in the course of the first week of sales – a mean of 5 grams per transaction – estimated at $353,802 in pretax receipts, the Arkansas Democrat-Gazette reported.
- Arkansas generated these sales figures from just two dispensaries – Doctors Orders Rx started sales in Hot Springs on May 10 whereas Green Springs Medical opened May 12, additionally in Hot Springs. By comparability, initial medical marijuana sales in Ohio averaged $248,000 per week with 4 working dispensaries.
- By May 13, the two dispensaries had introduced in $93,000 in sales – demonstrating robust affected person demand for medical hashish.
- Despite greater than two years of delays, sufferers continued to use for medical ID playing cards. The state had just over 12,000 sufferers as of mid-May – a 121% improve over affected person counts in June 2018.
Scott Hardin, a spokesman for the Arkansas Department of Finance and Administration, attributed the state’s robust first-week sales to affected person curiosity in this system.
“Now that dispensaries are selling product, the number of patients could grow at an even faster rate,” Hardin stated. “I think that 20,000 patients is a very feasible number for us in the near future.”
Hardin stated some Arkansans are ready for dispensaries to open close by earlier than they register for this system. He famous that “several” further dispensaries are anticipated to finish their ultimate inspections and start promoting product subsequent month.
Initial sales have been restricted to dry flower because the state’s processors come on-line. Sales will probably see a lift when the state introduces infused edibles, concentrates and vape cartridges within the coming weeks, Hardin added.
The state will even create extra enterprise alternatives this yr when it finalizes guidelines for brand spanking new marijuana distribution and hashish processing licenses.
There won’t be a restrict on the variety of these licenses, which suggests extra entrepreneurs will be capable of take part in Arkansas’ market.
Maggie Cowee may be reached at [email protected]
Joey Peña might be reached at [email protected]