Michigan cannabis sales grew by 17% to over $109 million in July, according to data released by the state’s Marijuana Regulatory Agency earlier this week. Meanwhile, Illinois’ cannabis sales grew by 15% to just over $94 million during the same period, according to that state’s regulators.
While Michigan has been steadily approving new cultivation licenses, including 28 new recreational cultivation licenses just in July, Illinois remains supply constrained with only 21 cultivation licenses for the whole state and only 40 more smaller craft grow licenses planned for this year. The supply constraints are having a direct impact on pricing, as dispensaries in Illinois report wholesale cannabis of about $4,000 a pound in Illinois, and about $2,400 a pound in Michigan.
