2022 isn’t shaping up to match the highs of 2021 for Oregon’s adult-use cannabis retailers.
Through the first four months of the year, the state’s adult-use dispensaries have sold $319.7 million in products, a 14.4% decrease from the $373.7 million sold during the same time period last year, according to statewide sales data from the Oregon Liquor and Cannabis Commission (OLCC).
The 2022 retail troubles come as OLCC regulators recently implemented a licensing moratorium in response to a “crowded marketplace,” including 771 adult-use retail licenses, or roughly 18.3 dispensaries per 100,000 residents—the highest rate among continental adult-use markets in Western states.
But there is hope.
Adult-use sales totals jumped to $83.7 million in April—Oregon’s largest grossing month since October 2021.
Last month’s sales bump came on the heels of $74.97 million in February sales—the state’s lowest grossing month in two years (February 2020).
In addition to the $83.7 million in adult-use sales for April, Oregon’s licensed cannabis retailers also sold nearly $6.1 million in medical cannabis products—$89.8 million combined last month.
Cannabis flower represented 50.5% of the combined product market share in April, while concentrates and extracts represented 24.3% of the market, and edibles and tinctures represented 13.6% of the market.
The median price of $4.29 per gram (roughly $122 per ounce) of flower at licensed retailers in April was the lowest it’s been since June 2019, according to OLCC.