Michigan Cannabis Sales Dip Again in November

Michigan Cannabis Sales Dip Again in November

Posted Dec 12, 2023 NewCannabisVentures

Michigan cannabis sales for November were down for the fourth consecutive month. At $260.5 million, sales fell 0.9% sequentially with the shorter month. They were up 28.1% from a year earlier:

The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 72.0% from a year ago to $3.8 million, down 14.0% sequentially, and adult-use sales expanding 35.2% year-over-year to $256.7 million, down 0.7% sequentially:

The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use:

MEDICAL

ADULT USE

As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In November, the average price of $1560 per pound fell sequentially, losing 0.1% but rising 2.5% from a year ago:

Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion and were up 27.9% in 2022 at $2.29 billion. So far in 2023, sales have grown 34.0% compared to the first eleven months of 2022. The program should continue to expand ahead as supply becomes more available and as distribution expands.

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