The state of Arkansas’ medical cannabis program went live in May 2019, and since then dispensaries have sold over $200.7 million in cannabis sales.
These numbers come from the Arkansas Department of Finance and Administration, which recently reviewed sales data through December 16. The department reported that over 30,648 pounds of cannabis was sold in that time frame. In an interview with Marijuana Business Daily in late November, Arkansas Medical Cannabis Commission (AMCC) Spokesperson Scott Hardin made a worthwhile prediction that cannabis, in pounds, would likely reach 30,000 by the end of December.
Officials have given licenses to 31 approved dispensaries throughout the state. Of these dispensaries, Green Springs Medical (located in Hot Springs) sold the most cannabis at 3,414.22 pounds, and The Releaf Center (located in Bentonville) sold 3,343.40 pounds.
Nearly one year after the state’s medical cannabis program launched, in March 2020, data showed that only $50.7 million had been collected in sales revenue (and 7,932 pounds of cannabis sold). At the time, the Department of Finance and Administration had not yet cleared all of today’s 31 dispensaries for operation. Between March and December, the state experienced a massive increase in sales, mainly due to the rise of the pandemic around the same time. According to BDSA, global cannabis sales have been stronger than expected and the year-end prediction lands at $19.7 billion.
The AMCC meets monthly and will reconvene once again on January 19, 2021. The commission will continue to evaluate the amount of cannabis sold throughout the year, and it stands to reason that the numbers for 2021 will continue to rise.
Thanks to this data, the evidence is clear that the state has a solid medical cannabis foundation. Arkansas’ substantial growth with medical cannabis could be the defining factor in moving toward recreational cannabis legislation one day.