Michigan recreational marijuana sales down in April despite 4/20

Recreational marijuana sales in Michigan dropped in April despite the annual 4/20 celebration.Adult-use sales in the state fell to $270 million in April, down from $276 million in March and $277 million in April 2024, according to a monthly report from Michigan’s Cannabis Regulatory Agency.

ADVERTISEMENT Although the dollar amount is down, sales by volume in Michigan for April were higher than in March and in April 2024 because flower prices have fallen.Michigan retailers sold  640,090 pounds of cannabis in April, up from 520,470 in March and 569,619 in April last year.

The average retail price for an ounce of flower was $62.23 in April, down from $65.14 in March and $86.61 during the same month last year. ADVERTISEMENT Price compression is expected as a regulated marijuana market matures, but the situation is compounded in states such as Michigan that don’t limit the number of licenses issued.

Although the number of active licenses in Michigan has leveled out in recent months, the number of cultivation permits issued in the state increased 964% from May 2020, when there were only 273 licensees, to August 2024, when there were 2,904....