Business
New Mexico Sets New Marijuana Sales Record, With $48 Million In Purchases In August
New Mexico set a new record for marijuana sales in August, with more than $48 million in combined medical and adult-use cannabis purchases, state data shows.
The New Mexico Regulation & Licensing Department’s (NMRLD) cannabis reporting portal shows $34,707,557 in recreational marijuana sales and $13,525,500 from medical cannabis last month, for a total of $48,233,057.
Those numbers come from 1,095,922 marijuana transactions at the state’s 1,021 licensed retailers.
Via NMRLD.
All told, patients and adult consumers have made almost $724 million in combined medical and recreational cannabis purchases since each program launched. Gov. Michelle Lujan Grisham (D) touted the industry’s sales figures, as well as the job creation associated with legalization, back in April.
The governor didn’t say whether she participated in the adult-use market in its first year by making any purchases, but she didn’t rule it out last year during a visit to a cannabis retailer on opening day.
New Mexico is one of multiple states that’s seen record-breaking surges in marijuana sales this summer.
For example, Connecticut also broke another marijuana sales record in August, with $25 million worth of medical and adult-use cannabis purchases, state data shows.
In Maine, marijuana sales also reached a record high in August, with nearly $22 million worth of purchases, according to recent data from the state Office of Cannabis Policy (OCP).
Massachusetts retailers have now sold more than $5 billion in adult-use marijuana since the state’s recreational market launched five years ago, the state reported last week. Sales reached $139.3 million in August alone, with the year-to-date total at $1.05 billion within the first eight months of 2023.
In Maryland, officials recently announced that the the state broke anther marijuana sales record last month, with nearly $92 million worth of cannabis products sold during the state’s second month of legal adult-use sales.
Illinois retailers sold $140 million worth of recreational marijuana products in July—the strongest sales of the year and second highest monthly total for the state since the adult-use market launched in 2020.
Michigan marijuana sales reached yet another record high in July, with nearly $277 million worth of cannabis sold.
Missouri retailers have been selling about $4 million worth of marijuana per day on average since the state’s adult-use market opened up in February—and the state saw a record $121.2 million in cannabis purchases in June.
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Back in New Mexico, the governor approved a bill in April to fulfill a key goal of the state’s marijuana legalization law by facilitating automatic expungements for prior cannabis convictions.
However, she also vetoed legislation that month to revise sentencing laws and prevent the incarceration of people over simple drug possession.
The state’s medical cannabis program could see more participation now that regulators have added insomnia to the list of qualifying conditions.
Workers in New Mexico’s marijuana industry are also enjoying higher pay on average than they were earning at their previous jobs, according to a state labor report released in June.
