During March, Michigan cannabis sales increased 179% from a year ago to $145.8 million, a 39% increase from February, which had 3 fewer days in the month, reaching a new all-time high:
The Michigan Marijuana Regulatory Agency breaks out sales by medical and adult-use, with medical sales improving 59% from a year ago to $50.7 million and adult-use sales soaring 346% to $97.6 million:
The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use (note that the tables both had an error in the summary line regarding the month):
In the larger and more rapidly growing adult-use market, flower and trim sales represented 58% of the market, up from 56% in the prior two months.
As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In March, the average price of $4078 per pound fell 5% from February 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 181% to $359.4 million.
