LANSING – The Cannabis Regulatory Agency reported Wednesday that $278,546,443 in marijuana and marijuana products sold legally in April, down about $10 million from the record $288 million sold In March. Medical cannabis sales represent 0.8% of Michigan’s overall marketplace so far in 2024.
To put that April decline in perspective, March included five Fridays and five Saturdays—traditionally the two biggest sales days of the week for dispensaries, plus one extra day.
The average cost per ounce of recreational marijuana in March was $86.61, down about $4 from March’s average and a new all-time low.
According to the CRA there are 793 licensed marijuana retail outlets located throughout Michigan, eight more than the previous month. The total number of active licensed in the marijuana industry is 2,206.
With regard to demand, Michigan retailers are selling an average of roughly 83,600 pounds of adult-use cannabis flower per month in 2024, representing a 7% increase compared to the first four months of 2023, according to CRA.
Michigan’s flower sales accounted for $124 million in April 2024, or 45% of the adult-use market, while vape cartridges (18.7%), inhalable compound concentrates (13%), infused edibles (9.2%), shake/trim (7.9%) and concentrates (5.7%) made up the other leading product categories, according to CRA.
On the supply side, Michigan has roughly 40.5% more adult-use cannabis flower in inventory when comparing April 2024 with April 2023, or about a 200,000-pound increase, according to CRA.
This story was compiled by Four20 Post Editor Mike Brennan
