There are concerns that Michigan’s marijuana market might be harshing its own mellow.
Michigan’s marijuana market is crashing down to earth, and over-supply and a competitive marketplace are being blamed. Bridge Michigan reports that more than 850 cannabis businesses are scattered across the state, and sales were down 11% last month from the peak in August of 2024.
Businesses and dispensaries have enjoyed robust growth in the past, but now prices are dropping and sales are slowing statewide. Last month, citing an extremely difficult market in the state, Toronto-based TerrAscend announced that they were pulling out of Michigan, closing 20 retail stores and four cultivation facilities.
As sales decreased by 4.2% in June, farmers statewide were planting more crop.
Most of Michigan’s dispensaries are clustered along the borders of Indiana and Wisconsin.
4 comments
Great timing, Niles Township!
Could this problem be compounded by the fact that you can grow your own hooch?!
And now,, Governor Gretchen Whitmer wants to raise the tax on cannabis, What a great idea. Effectively raise the price on legal cannabis to the point that people will “grow their own.” Which is not that hard to do!
Not to mention the untaxed product grown illegally probably has an advantage price wise.