Michigan cannabis sales gained 12% compared to June with one extra day and increased 23% year-over-year to a record $209.9 million in July:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 50.6% from a year ago to $21.1 million, down 2% sequentially, and adult-use sales expanding 47.1% year-over-year to $188.8 million, up 13.8% 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 July, the average price of $1945 per pound fell 0.7% sequentially and fell 44.2% from a year ago:
Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion and are up 26.2% thus far in 2022 at $1.24 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.