Michigan adult-use and medical marijuana retailers generated more than $276 million in sales in July, a monthly record, according to the latest statistics from the Cannabis Regulatory Agency.
The July sales total of $276,746,264 was nearly a 32% increase from a year ago and a 6.1% jump from June, MITechNews.com reported.
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Medical marijuana sales accounted for $6.1 million, or roughly 2.2% of total sales, in July.
In the adult-use market, flower accounted for $126,067,097 in sales, or about 46.5%.
At this rate, Michigan is once again on pace to crack the $3 billion milestone in annual sales.
The state is projected to rank second only to California this year in terms of total recreational and medical cannabis sales.
The lack of a statewide cap on the number of cannabis business licenses has played a critical role in Michigan expanding its licensed marijuana market.
Read full article on Marijuana Business Daily
