LANSING – Michigan cannabis sales continue to remain flat in July with sales for all products topping $287.7 million, up 3.2 percent from June’s $275.2 million. This follows similar sales figures in May of $278 million, April $279.6 million and March a record $289 million.
Recreational sales in July recreational marijuana sales totaled $264.4 million, up 5.8 percent from a year ago, while medical sales came in at $1.4 million, down 77.9 percent from July 2023.
With an oversupply situation in Michigan, flower pricing for adult-use averaged $1275 a pound, down 7.9 percent from June and a whopping $19.2 percent from July 2023.
According to New Cannabis Ventures, 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 12.6%.
New Cannabis Ventures predicts the program should continue to expand ahead as supply becomes more available and as distribution expands.
Flower tops July cannabis sales with $126.4 million, followed by Vape Cartridges at $53 million, Inhalable Compound Concentrate, $38 million, Infused=Edibles $26.4 million, Shake/Trim at $24 million, and Concentrate at $15 million.
