Cannabis sales ahead of long-term projections in Vt.

BURLINGTON, Vt. (WCAX) - The Cannabis Control Board says retail cannabis sales in Vermont continue to remain strong.

The board has issued just shy of 300 cultivator licenses—77% of those are considered small-scale cultivators in the state. There are also 53 retail licenses in the state, and the number of retailers and cultivators continues to grow. For sales, Vermont is about four months ahead of projections, hitting $18 million in sales.

Concerns have been raised about flooding the market if too many retailers or growers get into the game, but regulators say the supply is still behind the demand.

“There is a strong demand for regulated cannabis in the state,” said James Pepper from the Cannabis Control Board. “We have some of the highest consumption rates in New England, maybe in the country, yet we are seeing people shift from the illicit market to the regulated market.”

The board also says the supply of cannabis remains steady as cultivators, specifically indoor growers, come online in the state to keep the supply up in the winter months. We are about to enter the growing season for outdoor cultivators, which will boost the supply come fall.

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