Michigan cannabis sales rose 6.0% in June from the longer May to a record $260.8 million. On a per-day basis, sales grew 8.8%. The growth of 39.2% from a year ago was up from the 31.9% level last month:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 69.1% from a year ago to $6.6 million, down 5.8% sequentially, and adult-use sales expanding 53.2% year-over-year to $254.2 million, up 6.4% 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 May, the average price of $1428 per pound fell sequentially, losing 1.5% and falling 27.1% 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 38.5% compared to the first six months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.
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