Michigan August Cannabis Sales Record $295.5 Million

LANSING – In August, Michigan recreational and medical cannabis sales set a monthly record to $295.5 million, up nearly 3 percent from July sales $287.7 million. On a year over year basis, up 8.7 percent.

Recreational Sales Chart Below:

Medical Sales, however, fell 77.6 percent from 2023 to $1.3 million, down 6.9 percent from July, the Cannabis Regulatory Agency reported.

Medical Cannabis Sales Below:

In August, the average price per pound fell to $1282, up less than 1 percent from July, but down nearly 15 percent from August 2023. With October’s outdoor harvest of more than one million plants pending, prices could fall significantly next month, experts contend.

In 2024, sales have grown by 11:4 percent. In 2023, sales equaled $3.06 billion. This year it’s possible overall approach $3.5 billion.

About the Author: Mike Brennan

Founder of Michigan News Network, and serves as CEO, as well as Editor & Publisher of MITECHNEWS.COM. Brennan has worked since 1980 as a technology writer at newspapers in New York, NY, San Jose, CA., Seattle, WA., Memphis, TN., Detroit, MI., and London, England. He co-founded and served as managing editor of Pacific Rim News Service (SEATTLE), which developed a network of more than 100 freelance journalists in 17 Asia-Pacific countries.