Michigan cannabis sales for November were down for the fourth consecutive month. At $260.5 million, sales fell 0.9% sequentially with the shorter month. They were up 28.1% from a year earlier:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 72.0% from a year ago to $3.8 million, down 14.0% sequentially, and adult-use sales expanding 35.2% year-over-year to $256.7 million, down 0.7% 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 November, the average price of $1560 per pound fell sequentially, losing 0.1% but rising 2.5% from a year ago:
Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion and were up 27.9% in 2022 at $2.29 billion. So far in 2023, sales have grown 34.0% compared to the first eleven months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.
