Michigan cannabis sales for January rose slightly from a year ago and fell sequentially by 6.9%. At $247.3 million, sales were up 1.9% from a year earlier:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 71.6% from a year ago to $0.7 million, down 13.4% sequentially, and adult-use sales increasing 2.6% year-over-year to $246.6 million, down 6.8% sequentially:
The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In January, the average price of $1064 per pound fell sequentially, dropping 3.9% and declining 28.6% from a year ago to a new low:
Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion, 27.9% in 2022 to $2.29 billion and 33.3% to $3.06 billion in 2023. In 2024, they grew by 7.6% to $3.29 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.
