For the sixth straight month there was over a quarter of a billion dollars of legal marijuana sold in Michigan.
(Photo credit: GETTY Images).
In total there was $260,485,282 worth of legal marijuana and marijuana products sold in November, according to the Michigan Cannabis Regulatory Agency. This is a slight decrease from the $262 million sold in October, but it marks six months in-a-row where sales were above $250 million.
The vast majority of the legal marijuana purchased was for recreational consumption ($256.6 million), with just $3.8 million purchased by medical marijuana patients.
Total recreational marijuana sales since the start of legal sales in December, 2019 now stands at $6,657,505,904.97. This is in addition to the $1,600,279,397.93 in medical marijuana sold during the same period. This brings total marijuana sales over the past four years to $8,257,785,302.9.
Year-to-date marijuana sales for 2023 is now around $2.8 billion.
According to the Cannabis Regulatory Agency there are currently 741 licensed marijuana retail outlets located throughout Michigan, seven more than the previous month. The total number of active licensed in the marijuana industry is 2,151.
The average cost per ounce of recreational marijuana in November was $97.51 , a modest decrease from the $97.62 average in October.
Michigan voters legalized marijuana in November, 2018, with the first licensed retail outlet open the following year. The law allows those 21 and older to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates. Recreational marijuana receives a 10% excise tax in addition to the state’s 6% sales tax.
Last month legislation allowing Michigan to enter into marijuana agreements with Indian tribes while exempting them from the state’s marijuana excise tax was signed into law by Governor Gretchen Whitmer.
