LANSING – During June, Michigan cannabis sales increased 60% from a year ago to $149.0 million, similar to May despite having one less day:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 8.8% from a year ago to $41.7 million, down 6% sequentially, and adult-use sales increasing 140% to $107.4 million, up 3% sequentially:
The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:
In the larger and more rapidly growing adult-use market, flower and trim sales represented 58% of the market, unchanged from the prior three months and up from 56% in January and February.
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In June, the average price of $3357 per pound fell 5% from May and 48% from a year ago:
Michigan generated $985 million in cannabis sales in 2020, and the program should continue to expand this year as supply becomes more available and as distribution expands. So far in 2021, year-to-date combined sales are up 123% to $810.9 million.