Michigan selling more cannabis, but retailers taking in less money

Michigan marijuana retailers sold about 9.3% more cannabis in April than in March, but they brought in about 3.5% less money.

In April, Michigan retailers sold 573,206 total pounds of cannabis – 569,620 pounds to adult-use customers and 3,586 pounds to medical marijuana patients – for a total of $278,546,444.

Of that April total, $276,685,183 was spent by recreational shoppers and $1,861,261 by MMJ patients, according to monthly statistics from Michigan’s Cannabis Regulatory Agency (CRA).

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.