Michigan cannabis sales climbed 15.4% in March from the shorter February, reaching $249.7 million, a record. On a per-day basis, sales increased 4.2%. The growth of 62.9% from a year ago was the highest over the 15 months:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 69.3% from a year ago to $9.8 million, down 1.9% sequentially, and adult-use sales expanding 97.9% year-over-year to $239.9 million, up 16.2% 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 March, the average price of $1390 per pound rose 1.0% sequentially and fell 54.4% 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 46.2% compared to the first three months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.