Michigan cannabis sales for December fell from a year ago and they fell sequentially 3.9% despite the extra day in the month. At $265.5 million, sales were down 5.2% from a year earlier:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 74.4% from a year ago to $0.8 million, down 6.8% sequentially, and adult-use sales slipping 4.4% year-over-year to $264.7 million, down 3.9% 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 December, the average price of $1107 per pound fell sequentially, dropping 3.7% and declining 27.2% 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.
