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US (MO): Strong cannabis sales in February despite supply hurdles

Missouri dispensaries sold a little more than $126 million in recreational and medical cannabis in March, eclipsing the $103 million figure the state posted in February.

March's numbers break down to $93.5 million in adult-use cannabis sales and $32.7 million in medical sales and put Missouri on track to sell more than $1.4 billion in the first 12 months of recreational sales, according to a release from the Missouri Cannabis Trade Association.

This strong demand has led to a tighter cannabis supply as growers in the state adjust to meet consumers' needs, said Mitch Meyers, one of the founding partners of BeLeaf Medical Group, which operates three cultivation facilities in the state. "We have enough product," she said. "Yes, the price is going up a little bit, but you're going to see that level out and come back down over time."

Higher prices haven't been noted that broadly, said Madeline Scanlon, a cannabis insight manager at Brightfield Group, which tracks the cannabis industry. "There has not been a significant shift in our upper or median quartile or lower quartile from February to March," she said. "It's likely happening on a micro level where it is noticeable, possibly as a consumer is shopping."


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