Michigan had its best month in December, shattering previous records
According to state data, Michigan and its legal marijuana market managed to end 2022 with a record-breaking month. December has now been framed as the best month ever for legal cannabis sales in the Great Lakes State, moving the overall US industry forward by leaps and bounds.
Although Michigan is one of those states where medical marijuana has been steadily declining in sales, the recreational cannabis market has stepped up to the plate and more than made up for that drop. Last month alone, these sales totaled $221.7 million, which is approximately $9 million more than the previous record set in September.
According to the report shared by the state’s Cannabis Regulatory Agency (CRA), medical marijuana purchases only registered $13,419,377. However, December saw the numbers grow and grow even more thanks to the sale of $208,318,037 in recreational marijuana. It is important to note that Michigan has been able to evidence this overall increase in sales even as the average cost of marijuana has continued to fall.
Currently, $90 is the average price of an ounce in the state. By December 2021, that price was approximately double. Flowers led most marijuana purchases, followed by vape cartridges and infused edibles, CRA data reveal.
Last year, state regulators unveiled plans to issue another round of grants to support research into the therapeutic benefits of marijuana for military veterans. In order to achieve these goals, they will use tax dollars the state generated from adult-use cannabis sales, something that, as time goes on, appears to be getting juicier and juicier funds.