New Jersey sold nearly $2 million worth of cannabis on day one of sales

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More than 12,000 customers purchased nearly $2 million worth of adult cannabis products on the first day of sale in New Jersey, according to figures released Wednesday by the state’s Cannabis Regulatory Commission.

Twelve dispensaries reported total gross sales of nearly $1.9 million from 12,438 customers.

Despite concerns that recreational sales could threaten the supply of medical products users, the market for medical products remained robust, with approximately 64,000 ounces (1.8 tons) of medical products distributed to patients and their families. caregivers in the past month.

Medical consumers rushed to stock up, with dispensaries selling 5,400 ounces (153 kg) alone last Wednesday, the day before the recreational market launched, more than double the daily average of the previous month.

To speed up the launch of New Jersey’s recreational market, the Cannabis Commission voted earlier this month to license 13 medical cannabis dispensaries to also sell adult cannabis.

Jeff Brown, the commission’s executive director, said officials expected recreational sales to be “substantial.”

“The data shows the market is effectively serving adult consumers and patients,” Brown said in a statement. “We continue to monitor inventory and patient access and are prepared to take enforcement action against any dispensary that fails to meet patient access and supply requirements. »

The New Jersey market, barely 9 million inhabitants, should exceed 2 billion dollars a year once the regulation is fully deployed, according to estimates by MJBiz.

In New Mexico, which launched the sale of recreational cannabis earlier this month, customers spent more than $1.9 million on opening day, for 2 million residents in the state, not counting sales of medical cannabis.

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