After a 1.5% sequential gain in February, Michigan cannabis sales fell by 1% in March, growing 5.1% compared to a year ago to $153.2 million:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 33.5% from a year ago to $32.0 million, up 23% sequentially, and adult-use sales increasing 24% to $121.2 million, down 6% sequentially despite three more days in the month:
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, but this month saw a major change. In March, the average price of $3050 per pound bounced back by 19% compared to February and fell 25% from a year ago:
Michigan cannabis sales expanded 82% in 2021 to $1.79 billion and are up 28% thus far in 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.