Michigan cannabis sales fell 0.1% in May from the shorter April to $245.9 million. On a per-day basis, sales slipped 3.3%. The growth of 31.9% from a year ago was up a little from the 26.2% level last month:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 69.7% from a year ago to $7.1 million, down 10.1% sequentially, and adult-use sales expanding 46.4% year-over-year to $238.9 million, up 0.3% 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 $1450 per pound rose again sequentially, gaining 3.3% but falling 30.6% 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 38.4% compared to the first five months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.
