BOSTON (WBZ NewsRadio) — Dispensaries and retailers have sold more than a billion dollars of adult-use cannabis products in Massachusetts since January. Officially, the total is $1.01 billion, which was reported in just-released data from the Cannabis Control Commission.
The state taxes recreational cannabis at 17%, with the option of a 3% local tax, which would put the state's tax earnings on adult-use marijuana at at least $170 million.
The most common type of product sold at dispensaries in the past week was raw cannabis buds (30%) with raw pre-rolled cannabis coming in second (28%) and edibles coming in third (19%). A mix of cannabis oil concentrates, vapes and other products make up the rest of the products sold.
Total cannabis sales in the state since recreational adult-use cannabis sales began in November 2018 have been $2.18 billion.
Prices for weed in Massachusetts took a steep hit during the first two months of the pandemic and are now hovering around $370 an ounce, and slowly decreasing over time.