Each month, the Office of Cannabis Policy provides a breakdown of the cannabis retail sales of the previous month and year. Here is the break down for 2022:
In Maine's second full year in permitting Adult Use cannabis retail sales, cannabis retail sales increased roughly 94% from the year before. This is not surprising as tourism increased in Maine in 2022 and more retail stores opened.
Maine, like many other states, continue to struggle to gain municipal opt in for Adult Use cannabis retail sales. Of the 483 municipalities in Maine, only 62 have opted into Adult Use cannabis retail sales (roughly 13% of Maine's municipalities). Many of which have either capped the number of retail stores permitted or have required setbacks that effectively cap the number of retail stores permitted in the municipality. This limitation alone may impact the success of Maine's Adult Use cannabis program and Maine's desire to eliminate the illicit cannabis marketplace.
Maine's Adult Use cannabis price per gram has declined since January 2022. In January 2022, price per gram was $11.45 for bud/flower. In December 2022, the price per gram was $8.18 for bud/flower. To provide some context, in January 2022 in Massachusetts, the price per gram for flower was $12.64. In November 2022, the price had dropped to $8.07 per gram. The price drop is not uncommon as it has happened throughout the United States – especially as markets begin to mature. However, it took Massachusetts roughly four years before its price per gram of flower dipped to $8. In Maine, it took less than two years. This may be an early sign of an oversupply of cannabis that exists in Maine's Adult Use cannabis program.
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John M. Burke manages the firm's Maine cannabis law practice. Mr. Burke advises and represents the firm's clients throughout Maine in both the Medical and Adult Use cannabis programs in a wide range of Maine cannabis law matters. In addition to Mr. Burke's Maine cannabis law practice, Mr. Burke advises and assists the firm's clients in a variety of industries on various intellectual property matters throughout the United States. Learn more about John Burke by clicking here.
Caseiro Burke is a boutique law firm that specializes in intellectual property law and cannabis compliance and licensing in the State of Maine. We offer clients creative, cost-effective and reliable legal solutions in all intellectual property and Maine cannabis law matters.