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Arkansas Reaches $187 million in Medical Marijuana Sales
The state of Arkansas’ medical marijuana market is growing fast. After a slow start following the program launch in May of 2019, more than 80% of the state’s dispensaries are now open with sales reaching a cumulative total of $187 million.
More than 28,674 pounds of cannabis has been sold in the state of Arkansas, contributing to the $187 million figure. With anticipated sales expected to reach beyond 30,000 total pounds by late December, it’s clear that demand for medical cannabis products in the state will continue through the holiday season.
Industry Leaders Call for Increased Cultivation Capacity
The Arkansas medical marijuana program has been notoriously slow-moving, with consistent bureaucratic delays making it difficult for the industry to expand. Green Springs Medical, the state’s top seller of marijuana to-date, has recently highlighted concerns over product shortages due to lack of cultivation capacity in the state.
These product shortages are making it difficult for sellers like Green Springs Medical to meet patient demands. In states with similarly restrictive medical marijuana programs, the inability to meet patient demands have led to individuals going across state lines or purchasing the substance illegally to obtain their medication. This phenomenon has been especially true in nearby Iowa, where the state’s medical market is crumbling.
Current State of Arkansas Medical Marijuana Program
While advocates will certainly be pushing for increased cultivation capacity in the coming months, sales have proven strong in recent months. Average medical marijuana sales are roughly producing $600,000 daily, with the market’s busiest day occurring on November 20, 2020, where medical dispensaries pulled in a combined total of $850,000 worth of product sold.
Arkansas currently has 31 operating medical marijuana dispensaries. Six more are “working towards opening” in cities like Pine Bluff, Little Rock, Fayetteville, Osceola, and Hardy. As of November 20, 2020, the health department had reported over 60,000 active medical marijuana ID cards in the state.