As 2023 came close, legal marijuana sales in New Mexico broke a monthly record. Adult-use purchases in the month of December topped $37 million while sales of medical marijuana reached their highest level since August.
Retailers in 2023, the first year of full legalization for the state, sold cannabis products worth more than half a million dollars.
The state’s Regulation and Licensing Department (RLD) Cannabis Reporting Online Portal or CROP released sales figures on Tuesday. Adult-use retailers sold $37.5 million in December, while medical marijuana dispensaries only sold $13 million. This totals $50.5 million.
Since April 2022 when adult-use marijuana shops opened, there have been $608.4 millions in total sales, of which medical sales account for approximately $307.5 million.
The sales increase in December was largely due to larger purchases. The average medical transaction came in at under $52 while the average sale for adult use was around $42.50. In the last two months, the average transaction price has increased in both markets after it reached its lowest point ever in October.
The publicly available data on sales does not indicate whether the higher averages reflect more expensive products, or more consumers and patients purchasing more.
New Mexico Regulation and Licensing Department
Albuquerque is the city with the most adult-use sales recorded by dollar amount. Other cities include Sunland Park Las Cruces Santa Fe Hobbs. Albuquerque was the city with the highest total medical sales, followed by Santa Fe, Las Cruces and Rio Rancho.
A state report on labor released in June last year revealed that workers in the marijuana industry of New Mexico earn more than they did at their previous jobs.
The state regulatory added insomnia in May to the list qualifying conditions for medical cannabis.
Gov. Michelle Lujan Grisham, a Democrat from New Mexico, approved a bill to implement a key part of the state’s legalization of marijuana by facilitating auto-expunctions for previous cannabis convictions. In the same month, she vetoed a bill that would have changed sentencing laws to prevent people from being incarcerated for simple drug possession .
New Mexico is one of several states where marijuana sales surged to record levels last year.
In August, Rhode Island achieved a monthly revenue of $9.7, a new record for the state.
Officials from the state of Montana reported that purchases of adult use cannabis also reached a new record in August ($23.7million), despite medical marijuana sales being at their lowest level ($5.0million) since the recreational market opened in 2022.
Data from the state show that in August , Connecticut broke yet another record for marijuana sales, this time with 25 million dollars worth of purchases made by adults and medical users.
According to data released by the Office of Cannabis Policy in Maine, marijuana purchases reached a new high of nearly $22,000,000 during August.
Maryland officials announced recently that the state had broken another marijuana sales record for August. Nearly $92 million in cannabis products were sold during Maryland’s second legal month of adult-use sales.
Early September, Massachusetts officials announced that retailers had now sold more than $5 Billion in adult-use cannabis since the state launched its recreational market five year ago. The sales reached $139.3 in August, and the total for the year to date is $1.05 billion by the end of the first eight months 2023.
Illinois retailers sold 140 million dollars worth of recreational marijuana products during July, the highest sales total of the year. This is the second highest monthly amount for Illinois since the adult-use market was launched in 2020.
Michigan marijuana sales also reached another record in July with nearly $277 millions worth of cannabis being sold.
Since the adult-use marijuana market was opened in Missouri in February, the state has seen an average of $4 million worth per day in sales. The state also saw a record amount of $121.2 million spent on cannabis in June.
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Photo by Chris Wallis // Side Pocket Images.
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