Michigan cannabis sales climbed 4.4% in February from January, reaching $216.4 million. On a per-day basis, sales increased 15.6%. The growth of 39.8% from a year ago was the highest over the past year:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 61.5% from a year ago to $10.0 million, down 11.4% sequentially, and adult-use sales expanding 60.1% year-over-year to $206.4 million, up 5.3% 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 February, the average price of $1282 per pound rose 7.3% sequentially and fell 46.3% 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 35.9% compared to the first two months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.
