skip to Main Content
Michigan recreational marijuana sales increase 34% in February, prices down slightly

Michigan’s recreational marijuana industry continued its steady ascent in February, based on the latest monthly statistical report released by the state Marijuana Regulatory Agency.

Monthly recreational marijuana sales hit $14.8 million, a 34% increase over the nearly $9.8 million in January sales. The first full month of recreational sales, which began Dec. 1, logged $7 million in sales.

The number of licensed recreational marijuana retailers grew from 42 in January to 59 in February and there were 74 as of March 17, according to the Licensing and Regulatory Affairs website.

While sales increase, prices are decreasing slightly. The average retail cost for an ounce of flower in February was $494.77 per ounce ($7,916 per pound), down from $512.05 per ounce in January and $516.21 in December.

The state will collect about $1.5 million from the 10% excise tax and $976,800 from the 6% sales tax related to recreational marijuana sales. The state collected nearly $1.4 million in licensing fees and other revenue and spent about $344,000 overseeing the licensed recreational marijuana industry, according to the February report.

The first $20 million for the first two years after recreational marijuana sales begin is slated to be spent on research for marijuana use in health care. [Read more at]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published.

Recent Stories

Medical marijuana associated with reduced pain and opioid related outcomes in cancer patients

A new study finds a link between the legalization of medical marijuana and a reduction in the rate of opioid dispensing and pain-related hospital events in some cancer patients. In…

Medical marijuana cards are now free in Rhode Island

Starting Thursday, Rhode Island medical marijuana patients will no longer have to pay $50 to obtain a medical card, a change that coincides with the start of recreational marijuana sales.…

How did Rhode Island’s first day of retail marijuana sales go? Pretty mellow.

The first day of legal weed sales in Rhode Island Thursday was, well, mellow – punctuated by a 96-year-old war veteran buying a pot cookie to have with his coffee…

Cannabis giant Curaleaf just laid off over 200 employees as the industry’s downturn deepens

Curaleaf, one of the largest cannabis companies in the world, has laid off hundreds of its staff, Insider has learned. The company laid off around 220 employees ahead of the…

More Categories

Back To Top
×Close search