Legal marijuana sales in Michigan passed $275 million in April, despite prices dropping to an all-time low.
According to data compiled and released by the Michigan Cannabis Regulatory Agency, there was a total of $278,546,443 worth of marijuana and marijuana products sold legally in April. Just $1,861,261.02 was purchased by medical marijuana patients, with the remaining $276,685,182.93 purchased by recreational consumers. Sales for April fell around $10 million short of the record-breaking total of $288 million sold last month.
Total recreational marijuana sales since the start of legal sales in December, 2019 now stands at $8,000,677,441, resulting in over $1.4 billion in tax revenue. This is in addition to the $1.6 billion in medical marijuana sold during the same period.
The average cost per ounce of recreational marijuana in March was $86.61, an over $4 decrease from March’s average and a new all-time low.
According to the Cannabis Regulatory Agency there are currently 793 licensed marijuana retail outlets located throughout Michigan, eight more than the previous month. The total number of active licensed in the marijuana industry is 2,206.
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.
