Michigan Cannabis Sales Fall 1% Sequentially in October to $209... - Read of Green
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Michigan Cannabis Sales Fall 1% Sequentially in October to $209…

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Source: Marijuana Moment

Michigan cannabis sales fell 1.2% in October compared to September and increased 28.1% from a year ago to $209.4 million:

The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 57.2% from a year ago to $15.1 million, down 9.4% sequentially, and adult-use sales expanding 51.4% year-over-year to $194.4 million, down 0.5% sequentially with one more day than in September:

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 October, the average price of $1642 per pound fell 6.6% sequentially and fell 49.6% from a year ago:

Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion and are up 26.9% thus far in 2022 at $1.87 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.


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