LANSING, Mich. — Marijuana sales in February of 2023 were the second highest since the state legalized cannabis in 2020, according to the monthly report by the Cannabis Regulatory Agency.
Across the state, sales for recreational marijuana were over $206 million and sales for medicinal marijuana topped $10 million in February.
The $216 million in marijuana sales were the second highest on record, only beaten in December of 2022, with total sales over $221 million.
In February of 2023, there were 347,733 pounds and 354,020 fluid ounces of recreational marijuana products sold in Michigan. That's on top of 17,808 pounds and 7,030 fluid ounces of medicinal marijuana products sold in the state.
February sales raised over $32 million in tax revenue for the state and communities that allow marijuana sales.
The report on February sales by the Cannabis Regulatory Agency also shows that the price of marijuana has continued to drop and is now listed at $86 per ounce of marijuana flower.
The price of marijuana has dropped by nearly 50% year over year, with the cost of an ounce of flower in February 2022 being $160.
The state collects a 10% adult-use marijuana excise tax on marijuana sales and distributes a portion of that to the municipalities and counties that have recreational marijuana dispensaries. In addition to the 10% tax, the state also gets revenue from the 6% sales tax.
There have been over $5.5 billion in marijuana sales since cannabis was legalized at the end of 2019.
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