Colorado’s medical marijuana sales fell to their lowest point since retail sales began — the latest signal that the state’s once-robust industry is facing headwinds as others crowd the U.S. market and new regulations take hold.
In July, the state’s marijuana sales for both recreational and medical were shy of $154 million, according to Colorado Department of Revenue figures, down from nearly $203 million a year earlier. Sales for the calendar year have passed the $1 billion mark.
July’s medical marijuana sales reached a little more than $18 million – the lowest monthly number since January 2014, when retail sales were legalized in the state. Recreational marijuana sales fared better at more than $135 million – down from $168 million a year earlier, but higher than the numbers in April, May and June.
