Marijuana sales in Michigan in June unchanged from the previous quarter, slightly up from a year ago

In the relatively new king of U.S. cannabis, the state of Michigan, marijuana sales were essentially stagnant from May to June, although sales increased by nearly 7% year-over-year.

According to an analysis by New Cannabis Ventures, marijuana dispensaries in Michigan sold a total of $278.8 million worth of cannabis products last month, down from May ($279.6 million) but up slightly from April ($278.5 million).

But overall, sales rose 6.9 percent from June of last year, when they reached $260.7 million, according to data from the Michigan Cannabis Regulatory Agency. That’s the lowest annual growth rate in two years, New Cannabis Ventures noted.

Medical marijuana sales have declined sharply since the advent of the recreational market. Recreational cannabis has taken over the market, generating $277 million in sales in June, while medical cannabis sales were only $1.4 million.

Medical cannabis sales fell 78.4% year-over-year, while recreational cannabis sales increased 9.1%.

According to the CRA, cannabis flower continues to dominate among product types, with $123.4 million in recreational sales in June. In second place are vape cartridges, which accounted for $52 million of recreational sales in June.

But flower prices have fallen, particularly at the wholesale level, New Cannabis Ventures found, from over $8,000 per pound for recreational flower in January 2020 to an average price of $1,384 per pound in June, down 1.9 percent quarter-over-quarter and 3.1 percent year-over-year.

Michigan overtook California in March as the national leader in the amount of legal cannabis products sold by dispensaries. That month, 22 million units of cannabis products were sold, while California sold 21.3 million units. But California, with its higher prices, retained the top spot in total sales. It’s not yet clear if that trend has changed since March, as the Michigan CRA does not disclose units sold.