Michigan Cannabis Sales Sink - Read of Green
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Michigan Cannabis Sales Sink

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Source: Marijuana Moment

Michigan cannabis sales for January were were down sequentially after a lift in December. At $242.8 million, sales plunged 13.5% sequentially after setting a record in December. They were up 17.1% from a year earlier, the lowest growth since March 2022:

The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 77.9% from a year ago to $2.5 million, down 21.9% sequentially, and adult-use sales expanding 22.6% year-over-year to $240.3 million, down 13.2% sequentially:

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

Adult-Use Cannabis
Medical Cannabis

As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In January, the average price of $1491 per pound fell sequentially, losing 2.0% but rising 16.3% 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. In 2023, sales grew 33.3% to $3.06 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.


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