Record Adult-Use Purchases Lead Michigan Cannabis Sales 59% Higher... - Read of Green
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Record Adult-Use Purchases Lead Michigan Cannabis Sales 59% Higher…

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Source: Marijuana Moment

With an addition day compared to September, Michigan cannabis sales advanced 1.3% to $163.5 million, up 58.8% from a year ago:

The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 18.8% from a year ago to $35.2 million, down 4% sequentially, and adult-use sales increasing 115% to $128.4 million, up 3% sequentially and a new record:

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

Adult-Use
Medical

In the larger and more rapidly growing adult-use market, flower and trim sales represented 56% of the market, down from 57% in Q3 and from 58% in Q2.

As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In October, the average price of $3269 increased 0.3% from September and fell 49% 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. So far in 2021, year-to-date combined sales are up 86% to $1.47 billion.


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