Michigan cannabis sales for November rose from a year ago and they rose sequentially 2.9%. At $276.4 million, sales were up 6.1% from a year earlier:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 76.8% from a year ago to $0.9 million, down 8.3% sequentially, and adult-use sales rising 7.3% year-over-year to $267.6 million, up 2.9% 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 November, the average price of $1150 per pound fell sequentially, dropping 2.9% and declining 26.3% 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. So far in 2024, they have grown by 8.9%. The program should continue to expand ahead as supply becomes more available and as distribution expands.
