Ohio marijuana dispensaries generated more than $11.5 million in revenue from recreational marijuana sales in the week ending Friday, and prices rose dramatically in the first week that nonmedical cannabis was sold legally in the state, according to figures released Wednesday by Ohio’s Division of Cannabis Control.
In total, Ohio dispensaries sold 1,285 pounds of marijuana flower and 173,043 units of other products such as edibles and topical ointments for non-medical use, generating total revenue of $11,530,708, state regulators reported. Sales of medical marijuana brought in another $8.3 million.
Meanwhile, the average price for an ounce of flower – dried cannabis plant material – rose about 20% last week to $266 an ounce, compared to $222 an ounce the previous week, according to figures from the Division of Cannabis Control.
On August 6, 98 dispensaries received dual-use certificates issued by the state to sell both medical and non-medical cannabis – the first day Ohio allowed the sale of recreational cannabis last week. Another 18 dispensaries received dual-use certificates by Thursday.
Compared to early recreational marijuana sales in other states, Ohio’s sales compare favorably, says Jason Erkes of Cresco Labs in Chicago. Cresco Labs owns the Sunnyside dispensary in Columbia Township, where one of the state’s first recreational marijuana sales took place.
“Any way you look at it, Ohio has seen incredible results in its first week of sales, comparable to or even exceeding sales of other adult-use product launches, such as those in Illinois,” Erkes said.
According to a CNN report, nearly $11 million worth of recreational marijuana was sold in Illinois during the first week that recreational cannabis use was legalized in the state in 2020.