After a 2 1/2 year delay, the Arkansas Medical Cannabis Program is taking off, with the opening of more and more dispensaries. Within 2 months of the first Arkansas dispensaries opening their doors to patients, sales have totaled $2.2 million. In this article, I compare Arkansas to other nascent medical cannabis programs in nearby states.
- According to the spokesman for the Arkansas Department of Finance and Administration, more than 340 lbs of medical cannabis was sold at the four operational Arkansas dispensaries since the program started on May 10, 2019
- The fourth cultivator, Natural State Wellness Enterprises of Newport, expects to begin growing cannabis after their inspection within the next few weeks
- As of the end of June, 2019, there are 15,700 registered patients and caregivers
- The projected forecast by the Arkansas Department of Finance and Administration for a fully operational program is 40,000 patients and caregivers
- Patients were unhappy with the high cost of medical cannabis. The current cost per gram is $15. However, cannabis industry experts, based on the performance of other states, are confident that there will be a decrease in prices when all 5 cultivators are fully functional. Their estimate is a 25-40% decrease.
How The Arkansas Medical Cannabis Program Compares To Programs in Other States
The Arkansas Medical Cannabis Program has the auspicious honor of being one of the fastest growing programs during the first 2 months of its official kickoff. With a population of just over 3 million residents, Arkansas cannabis sales surpassed those of Ohio, during the same time period, which has a population of over 11 million residents. Ohio dispensaries opened in January, 2019. Their medical cannabis sales were just under $2 million after 60 days.
Medical cannabis sales in Arkansas kept pace with its neighboring state, Oklahoma, with a population of 4 million residents. Oklahoma dispensaries opened their doors in December, 2018. They currently have 140,000 registered patients and caregivers.
The Arkansas Medical Cannabis Commission has already issued licenses to 5 cultivators and 32 dispensaries. The Arkansas bylaws of the medical cannabis program allow up to 8 cultivators and 40 dispensaries.
Cannabis industry forecasters expect to see consistent growth of the Arkansas Medical Cannabis program for the foreseeable future.
Bloom Medicinals Arkansas is set to open in late fall/early winter in Texarkana, Arkansas. If you would like to keep up with the progress, more information & updates, please visit bloomarkansas.com
If you would like more information on how to apply for Arkansas medical cannabis program - Click here
arkansasonline.com, State’s Medical Marijuana Sales Hit $2.2 Million, Hunter Field, July 7, 2019
nwaonline.com, Arkansas’ Fifth Medical Marijuana Dispensary Set To Open in Doors, Hunter Field, July 2, 2019
5newsonline.com, Six Medical Marijuana Dispensary Approved To Open in Arkansas, AP/5NewWebStaff July 10, 2019