John Schroyer
New Mexico, like many other relatively new cannabis markets, is still developing more demand while sales continue to climb regularly. Last month the state hit yet another high water mark at $50.4 million in total cannabis sales.
That includes $37.4 million in adult-use cannabis goods – a new record for the state – and $12.9 million on the medical side, a significant bump from the past few months. The adult-use market began in April 2022, and medical sales have trended downward since.
December also brought 2023’s full-year cannabis sales to $555.8 million, according to statistics released by the New Mexico Cannabis Control Division. Total all-time cannabis sales reached $915.8 million, including $608.4 million in recreational and $307.4 million in medical.
Before last month, the biggest recreational marijuana sales month had been August 2023, with $34.8 million, along with $13.4 million in medical cannabis sales. The state broke the $30 million monthly barrier in March and hasn’t looked back since.
By contrast, medical sales continued to slump since recreational launched, from $17.3 million in April 2022 to just over $12 million each month since September last year.
The record month of December was bolstered by 880,663 individual adult-use transactions and 250,219 medical transactions at the 1,063 operational dispensaries in the state.
However, the average sale on the medical side is still outperforming single sales in recreational, at $51.94 on average for medical versus $42.55 for rec, the state reported.
The top New Mexico cities to date for sheer marijuana sales numbers included:
- Albuquerque
- Las Cruces
- Santa Fe
- Sunland Park
Each city reported more than 1 million cannabis transactions apiece.
