Michigan broke a marijuana sales record in April, with nearly $200 million in cannabis purchases, state data shows. The state saw about $168 million in recreational marijuana sales and $27 million for medical cannabis, for a total of nearly $195 million. Andrew Brisbo, executive director of the state Cannabis Regulatory Agency (CRA), broke down the numbers, which showed a notable dip in medical marijuana sales compared to a year ago (down 44 percent) and a significant increase in adult-use purchases (up 60 percent) in that timeframe.While the state didn’t speculate about the reasons for this April’s record sales figures, it is the case that April 20 is the unofficial cannabis holiday. Last month’s haul generated $19.5 million in excise tax revenue that the state can use to fund roads, schools and local governments. That’s in addition to $13 million in general sales taxes generated by cannabis sales. Brisbo also pointed out that the new sales record was set last month “despite the fact that the average retail flower price (ounce) dropped from $203.91 in April 2021 to $123.54 in April 2022 for medical sales and from $245.99 to $133.19 for adult-use sales.”
Kyle Jaeger, Marijuana Moment, 05/11/2022 08:49:00