Utah medical cannabis sales, patients surpassing projections

Utah’s 6-month-old medical cannabis program has far exceeded sales and patient enrollment projections – sparking product shortages that are boosting business opportunities for licensed cultivators.

The state already has hit the 10,000 milestone for registered patients, six months ahead of projections, state officials told the Deseret News in Salt Lake City.

“I don’t think that anybody had an idea as to the number of patients that Utah was going to see this early,” Cody James, manager of the Utah Department of Agriculture’s Industrial Hemp and Medical Cannabis Program, told the newspaper.
Between the program’s March 2 launch and Aug. 31, MMJ sales totaled $8 million, according to the state’s most recently available data.

Monthly sales now exceed $2 million, which puts Utah’s MMJ program on pace to generate about $25 million in sales on an annualized basis.

The 2020 edition of the Marijuana Business Factbook, published in late June, projected medical cannabis sales in Utah would reach only $3.5 million-$4.5 million this year and $20 million-$24 million in 2021.

The surprising demand and product shortages are prompting some cultivators to expand to their maximum 100,000 square feet of growing area, James told the Deseret News.

The strong sales, meanwhile, are benefiting the six dispensaries, called pharmacies, that have opened. Utah law allows only 14 to operate.

But many residents are still experiencing difficulties finding physicians willing to recommend MMJ.

Doctors must pay a $100 fee and participate in a four-hour training session in order to be part of the Utah’s medical marijuana program.

Originally Published on 2020 09 28 by Jeff Smith | Marijuana Business Daily

Thank you for joining us today for our latest news post. If you have any questions or comments about this post, we’d love to hear from you in the comments! Join the FindHempCBD.com newsletter to stay up to date on the latest Industry News and keep an eye out for our next news article!

Disclaimer: This content was sourced from Marijuana Business Daily and republished to our website to add value and additional content for our readers. In order to maintain the safety, functionality, and integrity of FindHempCBD.com, the sourced content may have been altered. To access the original content, please click the link below:


The Editor

The Editor

FindHempCBD.com is the internet's largest CBD stores directory. Browse 100s of CBD businesses, find CBD near you, and more!
  • Comments are closed.
  • Sign Up For Our Newsletter

    Stay informed with the latest articles on our CBD blog

    Related Posts

    CBD hemp oil, Hand holding bottle of Cannabis oil against Marijuana plant. Herbal Treatment, Alternative Medicine

    How CBD Can Help You

    With more and more CBD products entering the market every year, the CBD industry is growing at a rapid pace. The industry is projected to

    Pin It on Pinterest