Michigan cannabis sales climbed 15.4% in March from the shorter February, but they fell 1.5% in April to $246.1 million. On a per-day basis, sales increased 1.8% after gaining 4.2% on a per-day basis in March. The growth of 26.2% from a year ago was way down from the 62.9% level last month:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 71.0% from a year ago to $7.8 million, down 20.2% sequentially, and adult-use sales expanding 41.8% year-over-year to $238.2 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 April, the average price of $1404 per pound rose again sequentially, gaining 1.0% but falling 34.1% 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 40.2% compared to the first four months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.
