Michigan Cannabis sales set monthly record in July topping $275M
Cannabis legal sales in Michigan in July leaped 6,1% from June to a record $275,7 million, putting cannabis sales in 2023 on a $3 billion run rate.
Another impressive stat released Friday by the Cannabis Regulatory Agency is on a day-by-day basis, sales increased by 2.7 percent.
Taking a closer look at the CRA July stats, adult-use sales topped $270 million, some 43.3 percent more than July 2022. Medical sales, however, plummeted just $6.1 million.
Furthermore, in June and July this year, Michigan’s dispensaries sold more than 571,000 pounds of adult-use and medical cannabis flower through the first seven months of the year, representing a 107 percent increase from about 276,000 pounds sold during the first seven months of 2022, the CRA data shows.
The average monthly cannabis sale during the first seven months of 2023 was $243.3 million. If sales continue at this rate for the next five months Michigan cannabis sales could top $3 billion, just the second cannabis state to reach that lofty goal joining market leading California.