Michigan marijuana retailers sold about 9.3% more cannabis in April than in March, but they brought in about 3.5% less money.
Flower sold from the CRA report is $124,074,521 total for 89,539.56 pounds for $86.61 per ounce. The rest of cannabis sales revenue was non-flower products. Flower still makes up almost 50% of sales, and if you also include pre-rolls Its 52.7% of total sales in Michigan.
In March, Michigan retailers sold 524,285 total pounds of marijuana – 520,469 pounds on the recreational side and 3,816 on the MMJ side – for $288,843,279.
Of that March total, $286,790,258 was spent by adult-use customers and $2,053,021 by MMJ patients, according to CRA data.
The agency reported that average prices for an ounce of recreational cannabis slid from $90.70 in March to $86.61 in April.
The average price for an ounce of medical cannabis decreased from $101.22 in March to $99.74 in April.
Despite the low retail ounce prices, the state continues to receive dozens of applications for Class C cultivation licenses.
Class C permits cap at 2,000 the number of cannabis plants allowed at a cultivation facility.
For example, in April, 335 of the 336 new MMJ business applications were for Class C grow licenses, the CRA reported.
And 30 of the 117 new adult-use business applications were for Class C cultivation permits.
This story appeared in MIBizDaily