Marijuana Business Magazine - April 2018

Colorado Despite falling marijuana prices, annual sales in one of America’s oldest regulated recreational cannabis mar- kets have yet to plateau and instead continued to break records last year. Colorado’s marijuana stores rang up a record $1.5 billion in sales of medical and recreational cannabis, edibles and concentrate products in 2017, according to data released by the state. That’s up 15% from 2016, when retailers sold $1.3 billion, which was the previous record. In 2015, the state registered $996 million in sales. California More than a month after California launched recrea- tional marijuana sales, less than 1% of the state’s known growers were licensed, a trade group said. According to a 38-page report from the California Growers Association, 0.78%, or 534, of an estimated 68,150 marijuana growers were licensed by the state as of Feb. 7. The association cited cost and regulatory barriers. If more of the state’s smaller, independent growers don’t get licensed, the black market will continue to flourish, according to the report. 22 • Marijuana Business Magazine • April 2018