With one less day in September than August, Michigan cannabis sales slipped 2.5% to $161.4 million, up 52.5% from a year ago:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 20.9% from a year ago to $36.5 million, down 9% sequentially, and adult-use sales increasing 109% to $124.9 million, down 0.5% 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 57% of the market, similar to July and August but down from 58% in 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 September, the average price of $3497 per pound fell 7% from August and fell 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 90% to $1.31 billion.
