Michigan marijuana retailers sold $295,412,252 worth of medical and recreational cannabis in August, setting a monthly record.
The previous record was set in March, when total sales hit $288,843,279, according to MJBizDaily’s analysis of the latest data released by the Michigan Cannabis Regulatory Agency (CRA).
Sales in August were up 2.7% over July, when retailers reported $287,743,072 in total sales.
Medical marijuana sales accounted for less than 1% of total regulated cannabis sales in August, according to MJBizDaily analysis.
August marked the third-consecutive month of increasing sales in the state.
Michigan retailers in August also broke a monthly record for selling 100,894 pounds of flower, Cannabis Business Times reported.
Meanwhile, the average price per ounce of flower was $80.14, a near-record low.
Marijuana sales figures were up nearly 7% year over year; in August 2023, retailers tallied $276,262,397 in adult-use and MMJ sales.
Michigan’s regulated marijuana market is on pace to eclipse $3.3 billion in sales in 2024, beating last year’s record of $3.06 billion.
Chris Casacchia can be reached at chris.casacchia@mjbizdaily.com.
