Pubdate: Thu, 10 Jul 2014
Source: Albuquerque Journal (NM)
Copyright: 2014 the Associated Press
Contact:  http://www.abqjournal.com/
Details: http://www.mapinc.org/media/10
Author: Kristen Wyatt, the Associated Press
Page: A4

COLORADO POT SALES HIGHER THAN ANTICIPATED

DENVER (AP) - Colorado is smoking pot by the ton, and visitors are, too.

Colorado's pot regulators issued what is believed to be the world's 
first post-legalization market study for the weed on Wednesday. The 
study relied on sales data from Colorado's first three months of 
recreational marijuana sales, while previous pot market studies 
relied on survey responses because the drug is illegal.

"This study finds total marijuana demand to be much larger than 
previously estimated," Colorado's study concluded.

The study estimated that total market demand for marijuana in 
Colorado is about 130 metric tons a year. That's about 121 metric 
tons for residents and almost 9 metric tons a year for visitors. 
These figures include medical and recreational marijuana.

Marijuana has an average market rate in Colorado of $220 per ounce, 
authors concluded.

The estimates were nearly a third higher than one recently projected 
by the state Department of Revenue, which regulates the marijuana 
industry. Nations with legal or semi-legal marijuana sales, such as 
the Netherlands, do not track national inventory, making firm market 
analysis spotty.

Colorado concluded that visitors account for 44 percent of 
recreational marijuana retail sales in the Denver area. In the 
mountains and other vacation spots, visitors to Colorado account for 
90 percent of recreational dispensary traffic.

Colorado's market numbers bore out survey estimates that most 
marijuana is consumed by heavy daily users. For example, survey 
authors estimated that a third of all Colorado's pot consumers use 
the drug less than once a month. But that group accounts for just 0.3 
percent of the total market, analysts concluded.

"Heavy users consume marijuana much more often, and more intensely, 
than other consumers," the study concluded.

The study tapped into Colorado's Marijuana Inventory Tracking System 
used by growers and retailers to account for inventory. But the 
study's authors also included untaxed pot because Colorado allows 
adults over 21 to grow pot at home.
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MAP posted-by: Jay Bergstrom