Colorado report blames marijuana sales decline on maturing national market | How to buy Skittles Moonrock online

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The oldest legal recreational marijuana market of the United States continues to struggle. ColoradoAccording to a, the success of cannabis legalization in other states, as well as the oversupply and saturation of the market, is to blame. Report from the State Legislature.

According to the September Economic and Revenue Forecast by the Legislative Council Staff, Colorado’s state cannabis tax revenues “continue to decline, but with a slower rate.”

The report stated that “weak demand for marijuana because of legalization in other States and market maturation” has led to low prices, and reduced consumption.

The report stated that “the decline in marijuana tax revenues is largely due a fall in consumption after the COVID-19 epidemic and a drop in demand as other states legalize marijuana across the country.”

The report stated that “as well as an oversupply, marijuana has resulted to persistently low prices both at the wholesale and retail level.”

The report noted that the market’s struggles had resulted in an 17% contraction from year to year among licensed growers. The number of registered medical marijuana users “continues” to decline.

The report noted that the trend was not unique to Colorado but shared by nearly all states with functional recreational marijuana markets at the time of the COVID-19 pandemic.

The report stated that “prices for marijuana fell when pandemic-induced consumption waned and marijuana tourism became less prominent, as well as as the market matured.” Tax revenue from marijuana sales is declining in most states that have legalized recreational marijuana due to the decline in demand following the pandemic. However, states that legalized marijuana earlier – such as Colorado, Washington, or Oregon – are experiencing the largest declines.

The report found that Colorado’s cannabis market was so crowded with eager cannabis businesses in 2018 that the downward spiral began even before the pandemic.

The report stated that Colorado had already begun to experience this trend before the pandemic of 2018 and 2019. This was demonstrated by the falling prices and the excise tax revenues.

“At the beginning of the pandemic wholesale prices increased between January 2020 and Jan 2021 by over 30% as pandemic-induced regulations resulted in a surge in demand for marijuana products. Prices fell by 63% over the next two years, reaching their lowest point in April 2023. The report found that prices have started to recover since then, but have dipped in the last quarter.

The report states that tax revenue and overall cannabis sales are expected to rebound in the next year but at a slower rate than historically.

In Colorado, the legal cannabis market has been booming. Historically bad Most sales figures have fallen to their lowest levels in 2016 or 2017.