Michigan cannabis sales were unchanged in August from July, down just slightly from the record of $276.7 million to $276.3 million. The growth of 32.9% from a year ago was up from the 31.8% level last month:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 69.5% from a year ago to $5.6 million, down 8.3% sequentially, and adult-use sales expanding 42.9% year-over-year to $270.6 million, unchanged 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 $1507 per pound fell sequentially, dropping 4.5% and falling 19.4% 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 36.8% compared to the first eight months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.