Oregon’s Edible Marijuana Market Booms
Many people probably still think of the classic image of a person smoking a rolled joint when thinking about partaking of marijuana.
But people are increasing using cannabis by eating it in foods such as chocolate bars, cookies or candies.
The markets for edible marijuana has exploded. This is true in states where marijuana use has been approved for recreational use – including Oregon, Colorado and Washington. Oregon, which is following the other two states into allowing recreational use of marijuana, is just beginning to see the extent of the marijuana market.
Oregon Sees Huge Profit Gains
Those dealing in legal marijuana are taxed by the state. By May 30, the tax revenues from sales of marijuana for recreational use in Oregon had reached $14.9 million. The Oregon Legislative Revenue Office predicts that the amount will average about $3.7 million per month.
Using marijuana for recreational purposes became legal in Oregon last fall. Edible products for recreational use of marijuana entered the market in Oregon in June. State officials expect to see sales increase by 10 to 15 percent a month going forward.
“It is a new range of products, a new market, and not necessarily the same market that marijuana leaves have been in for a long time.” This was from, Mazen Malik, senior economist for revenue office, as told to the Statesmen Journal.
Right now, dispensaries for medicinal marijuana have started to also sell for recreational use. This “early recreational sales program” is expected to end at the end of 2016. At that point state officials anticipate having a licensing process in place for standalone recreational marijuana stores.
Popular Edible Marijuana Products
So just what kind of food are people eating that has been infused with marijuana? The answer is: pretty much everything you can think of.
According to the Statesmen Journal, some of the most popular edible marijuana items include ice cream and candy, such as gummies. Marijuana-infused cooking oil is also popular.
And in addition to food and drink, there are lotions and ointments you can apply that are infused with cannabis.
Under the current program, marijuana edibles can have only 15 milligrams of THC. This is less than what is allowed for medicinal marijuana. Also, customers are limited to making one purchase per day.
Chalice Farms, a company in Oregon that sells edibles, has four locations and is able to produce about 500 boxes per day for sale. Among their marijuana-infused offerings are truffles, white chocolate chai squares and milk chocolate infused with hazelnut.
“Right now, the whole team, it’s all hands on deck, and they’re working hard to get it done,” the company president, William Simpson, told The Cannabist. “This is a big day for Oregon.”
As the state moves forward with plans to license recreational marijuana stores, those days – in terms of profits and taxes for the state – are likely to only get bigger.