Following a record-setting December for adult-use sales, Michigan cannabis sales in total decreased 9% to $152.6 million in January, up 41% from a year ago:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 32% from a year ago to $28.0 million, down 15% sequentially, and adult-use sales increasing 85% to $124.6, down 8% sequentially:
The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:
In the larger and more rapidly growing adult-use market, flower and trim sales represented 57% of the overall market, slightly higher than the 56% in Q4 and similar to the 57% in Q3.
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In January, the average price of $2443 per pound plunged 17% from December and fell 53% from a year ago:
Michigan cannabis sales expanded 82% in 2021 to $1.79 billion. The program should continue to expand ahead as supply becomes more available and as distribution expands.