Michigan Cannabis sales in January have sharply decreased compared to a year ago, as they decreased by 15.9% consecutively. At $226.8 million, sales decreased by 8.3 percent compared to last year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 43.4% year over year to $0.4 million, down 1.6% sequentially, and adult use sales down 8.2% year-over-year to $226.4 million, up 15.9% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
As supply continues to expand, prices for adult flowers have plummeted. The average price of $945 per pound in January is up 1.5% sequentially from a record low and down 11.2% from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion The program should continue to expand going forward as supply becomes more affordable and distribution expands.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
