Michigan cannabis sales slipped 1% compared to July and increased 26% year-over-year to $207.9 million in August:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 53.9% from a year ago to $18.5 million, down 12.4% sequentially, and adult-use sales expanding 50.9% year-over-year to record $189.4 million, up 0.3% 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 August, the average price of $1869 per pound fell 3.9% sequentially and fell 47.5% from a year ago:
Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion and are up 26.1% thus far in 2022 at $1.45 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.