Biz Journals reports
Oregon’s cannabis industry has set another monthly sales record, reaching $110.4 million in April.
Taxed adult-use sales also cracked the $100 million mark for the first time, at $100.3 million, according to the data from the Oregon Liquor Control Commission.
It was the second straight month of record sales — just topping a revised $109.6 million for combined adult-use and medical sales in March — amid government stimulus and an improving economy.
A pandemic boom last year brought several monthly records.
With the 4/20 cannabis “holiday,” April always brings big promotional efforts by retailers. But sales this April were 23% higher than last year and a whopping 77% higher than April 2019.
For the first four months of 2021, sales are running 31% above last year, at $409.4 million.
About 91.2% of that total, $373.4 million, was spent on adult-use products that are taxed at 17% by the state and 3% by cities or counties. Medical sales are not taxed.
State economists recently forecast $301 million in cannabis tax collections in the two-year budget period that ends June 30, but the spring uptick appears likely to push the total past that. In the 2018-19 biennium, the tax brought in $184.3 million.