Michigan Marijuana Sales Hit Record High, Exceeding $221 Million In December, State Data Shows

Michigan Marijuana Sales Hit Record High, Exceeding 1 Million In December, State Data Shows
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Michigan marijuana sales reached a record high in December, state data shows. While medical cannabis purchases have gradually declined, the adult-use market has more than made up for that drop, with total sales hitting $221.7 million last month. That’s about $9 million more than the previous record set in September. The state Cannabis Regulatory Agency (CRA) shows that December saw $208,318,037 in recreational cannabis sales and $13,419,377 from medical marijuana purchases, as New Cannabis Ventures first reported. What’s more, the state is experiencing this total sales surge even as the average cost of marijuana has continued to dip, with the price of an ounce now hovering around $90. In December 2021, by contrast, the cost of an ounce was about $180. Most of the cannabis purchases came from flower, followed by vape cartridges and infused edibles, CRA’s data reveals. Arizona’s marijuana market has seen similar trends, with the state recently announcing that cannabis sales reached a record high in October. Medical marijuana purchases are also declining in the state, but the recreational market is on an upward trajectory. Illinois marijuana sales hit a record high of more than $1.5 billion in 2022—and this past December marked the strongest sales month to date—officials announced earlier this month. Meanwhile, Michigan regulators announced last year that they are issuing another round of grants to support research into the therapeutic benefits of marijuana for military veterans, using tax dollars the state generated from adult-use cannabis sales. This time around, CRA said that it has recommended awarding $20 million in grants to two universities as part of the Veteran Marijuana Research (VMR) Grant Program. Michigan officials also announced last year that the state would be distributing nearly $150 million in marijuana tax revenue, divided between localities, public schools and a transportation fund. The state Treasury Department…

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