With one more day than in November, Michigan cannabis sales increased 10% to $168 million in December, up 66% from a year ago:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 17% from a year ago to $32.9 million, up 3% sequentially, and adult-use sales increasing 119% to a record $135 million, up 12% sequentially:
The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:
In the larger and more rapidly growing adult-use market, flower and trim sales represented 56% of the overall market, consistent with the prior two months but lower than the 57% in Q3 and 58% in Q2.
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In December, the average price of $2958 per pound fell 3% from November and fell 47% from a year ago:
Michigan generated $985 million in cannabis sales in 2020, and the program should continue to expand ahead as supply becomes more available and as distribution expands. In 2021, year-to-date combined sales were up 82% to $1.79 billion.
