In February, Michigan's cannabis industry experienced a notable uptick, with total sales reaching $261.1 million, marking an almost 10% increase from January's $242.8 million. This growth encompasses both adult-use and medical cannabis markets, with adult-use sales dominating at $257.9 million, compared to the significantly smaller $2.2 million in medical sales.
The price per ounce for medical cannabis stood at $102.16, whereas adult-use cannabis was slightly cheaper at $91.94, as reported by the Cannabis Regulatory Agency (CRA). The adult-use market saw sales of 474.9 pounds of cannabis.
Employment within the sector is also on the rise, with 35,335 individuals now working across both medical and adult-use cannabis companies, indicating a robust job market within this burgeoning industry.
A breakdown of sales by product category highlights the diverse consumer preferences in Michigan's cannabis market:
The detailed sales data for February 1 – February 29 further specifies the quantities sold and total sales for each category:
The total of 474,275.47 pounds and 713,836.74 fluid ounces sold translates into a comprehensive $258,857,645.20 in sales, showcasing the dynamic and expanding nature of Michigan's cannabis industry.
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