Michigan’s cannabis dispensaries set a new sales record on April 20th
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Michigan’s cannabis users peaked on April 20 this year. not held back. But of course nobody expected that.
In fact, over two tons of cannabis flower were sold during the annual weed holiday. Initial data from Michigan’s Cannabis Regulatory Agency (CRA) shows that total cannabis flower sales as of April 20 this year are up 242% compared to the same day in 2021, said CRA Director Andrew Brisbo.
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Here is the breakdown of the 20.4. cannabis flowers sold in the last three years:
- 2022 – 4,619 pounds
- 2021 – 1,912 pounds
- 2020 – 430 pounds
During this year’s cannabis holiday, consumers purchased more than $15.5 million worth of cannabis products from state retailers. Total sales of cannabis products, as measured by price, increased 45% year over year.
4/20 total weed sales in Michigan over the last three years:
- 2022 – $15.55 million
- 2021 – $10.69 million
- 2020 – $3.67 million
“Overall sales continue to grow despite significant year-over-year price declines,” Brisbo said, according to the Detroit News. “Over 140,000 adult vape cartridges have been sold [on 4/20] — 100,000 more than last year.”
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There are at least 540 medical dispensaries serving the state’s 230,500 MMJ patients and nearly 500 adult retail outlets in Michigan.
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Lots of tax money
Purchasers of adult-use cannabis pay a 10% excise tax on top of the state sales tax, while MMJ users pay no excise tax.
Wednesday’s sales inflow totaled more than $2.55 million in excise and government sales in a single day, CRA spokesman David Harns said.
Recreational cannabis sales in Michigan are expected to hit a new high of $1.5 billion this year. It seems that this year’s 4/20 celebrations have given a powerful boost along the way.
This article originally appeared on Benzinga and has been republished with permission.
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