The Illinois Cannabis Market Is Strong, But Shortages Will Persist For Months

Illinois’ new recreational marijuana market is off to a hot start even amid the spread of coronavirus. Earlier this week, the state announced nearly $36 million worth of legal cannabis was sold in March — on par with numbers from February.

March may be two days longer, but it was also when the coronavirus outbreak worsened in Illinois and the rest of the country. Gov. J.B. Pritzker ordered all nonessential businesses to close and residents to stay at home partway through the month.

Medical cannabis facilities are classified as essential health care and public health operations under Pritzker’s order.

“We can keep our doors open, and we’ve seen an uptick,” said Michael Perlman, executive vice president of investor relations and treasurer at Jushi Holdings. “More folks are coming in, so our stores are performing quite well.”

But keeping dispensaries open amid the outbreak also means the state will continue to face some product shortages as the new market matures.

“I don’t believe it’s going to (shore) up anything,” said Sammy Dorf, chief growth officer of Verano Holdings LLC. “Sales are pretty strong across the board.” [Read more at St. Louis Public Radio]