Michigan Cannabis Sales Set a Monthly Record in June 2023

Michigan cannabis sales rose 6.0% in June from the longer May to a record $260.8 million. On a per-day basis, sales grew 8.8%. The growth of 39.2% from a year ago was up from the 31.9% level last month:

The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 69.1% from a year ago to $6.6 million, down 5.8% sequentially, and adult-use sales expanding 53.2% year-over-year to $254.2 million, up 6.4% sequentially:

The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:

MEDICAL/MMFLA CANNABIS SALES

ADULT USE CANNABIS SALES

As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In May, the average price of $1428 per pound fell sequentially, losing 1.5% and falling 27.1% 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 38.5% compared to the first six months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.

MCL Admin

The Michigan Cannabis Lawyer Admin is the profile for the cannabis attorneys here at Covert Law Firm.