Michigan Sales Surge To New High In December

Recreational cannabis sales in Michigan topped $135 million in December, rivalling Illinois’ total and improving on November’s sales figures by nearly $15 million to reach a record high, according to data from the state’s Marijuana Regulatory Agency. Flower made up almost half of consumers’ spending at $63.7 million. Vape cartridges claimed a distant second-place at $29.8 million, followed by edibles at $18.5 million, shake and trim at $11.3 million, and concentrates at $9.7 million. Medical cannabis sales contributed an additional $33 million to the overall total.

Michigan’s recreational market launched in January of 2020, meaning that December 2021 makes for two full years of sales. In that time, the market has grown by leaps and bounds. The best month of recreational sales in 2020 was about $70 million, roughly half what the market achieved last month. Meanwhile, prices have fallen by more than half: when the market launched, a pound of cannabis was worth just over $8,000, but the price had sunk by last month to just below $3,000, driven by increasing supply. The state now boasts more than 500 licensed growers, 107 processing licenses, and 432 retail licenses. —Danny Sullivan

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