Adult-Use Sales Lift Michigan Cannabis Revenue Up 12% Sequentially... - Read of Green
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Adult-Use Sales Lift Michigan Cannabis Revenue Up 12% Sequentially…

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Source: Marijuana Moment

Michigan cannabis sales gained 12% compared to June with one extra day and increased 23% year-over-year to a record $209.9 million in July:

The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 50.6% from a year ago to $21.1 million, down 2% sequentially, and adult-use sales expanding 47.1% year-over-year to $188.8 million, up 13.8% sequentially:

The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:

Medical Cannabis

Adult-Use Cannabis

As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In July, the average price of $1945per pound rose 34% sequentially but fell 44% from a year ago:

Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion and are up 26.2% thus far in 2022 at $1.24 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.


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