Prices for marijuana flower in Michigan have nosedived since the start of adult-use sales in December 2019, and many in the industry attribute the falling prices to a glut of cultivation licenses.
At the same time, low prices in Michigan have created a marijuana retail market that rivals the one in California, the largest regulated cannabis market in the world.
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The average retail price for an ounce of flower in Michigan has plunged more than 80% since adult-use sales started.
The average price for an ounce of flower was $80.14 in August 2024, according to data from Michigan’s Cannabis Regulatory Agency (CRA), down 84.5% from $516.21 per ounce in December 2019.
Meanwhile, monthly sales increased from 450 pounds sold for $1.7 million in
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