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Michigan cannabis sales for September fell sequentially 9.7% from August. At $266.9 million, sales were down 2.9% from a year earlier:
The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 79.3% from a year ago to $1.0 million, down 19.0% sequentially, and adult-use sales falling 1.5% year-over-year to $265.9 million, down 9.6% sequentially from the record level:
The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:
Adult-Use Cannabis Sales
Medical Cannabis Sales
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In September, the average price of $1259 per pound fell sequentially, dropping 1.8% and declining 21.4% from a year ago:
Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion, 27.9% in 2022 to $2.29 billion and 33.3% to $3.06 billion in 2023. So far in 2024, they have grown by 10.0%. The program should continue to expand ahead as supply becomes more available and as distribution expands.
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“}]] Michigan cannabis sales for September fell sequentially 9.7% from August. At $295.4 million, sales were down 2.9% from a year earlier: The Michigan Cannabis… #aawh #ascend #ascendwellness Read More