Michigan Cannabis Sales Slow In April

Michigan cannabis sales for April fell sequentially after rising in February and then March. At $278.6 million, sales fell 3.6% sequentially from the previous record level. The sequential growth on a per-day basis was -0.3%. They were up 13.2% from a year earlier:

The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 76.3% from a year ago to $1.9 million, down 6.09.3% sequentially, and adult-use sales expanding 16.2% year-over-year to $276.7 million, down 3.5% sequentially:

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

As supply continues to expand, flower pricing for adult-use has seen a dramatic decline. In April, the average price of $1386 per pound fell sequentially, losing 4.5% and declining 1.3% from a year ago:

Michigan cannabis sales expanded 82.1% in 2021 to $1.79 billion, 27.9% in 2022 to $2.29 billion and  33.3% to $3.06 billion in 2023. So far in 2024, they have grown by 16.5%. The program should continue to expand ahead as supply becomes more available and as distribution expands.