During May, Michigan cannabis sales increased 76% from a year ago to $148.9 million, a 3% decrease from April despite having an additional day:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 1.5% from a year ago to $44.5 million, down 8% sequentially, and adult-use sales increasing 165.6% to $104.4 million, down 1% 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 March and April and up from 56% in the prior two months.
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In May, the average price of $3539 per pound fell 10% from April and 46% 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 142% to $661.9 million.
