New Mexico December Cannabis Sales Total More Than $40 Million

New Mexico December Cannabis Sales Total More Than Million
High Times

Regulated sales of cannabis in New Mexico topped more than $40 million for the month of December, with recreational marijuana sales setting a new record of $28 million for the month. Sales of medical marijuana totaled about $15.1 million for the last month of 2022, up from about $14 million in November, according to data released this week by the state’s Cannabis Control Division. The increase over the previous month reverses a trend of declining medical marijuana sales posted over the preceding four months, going back to August. Andrew Vallejos, the acting director of the Cannabis Control Division (CCD), said that the record-breaking month for adult-use cannabis sales coupled with an increase in medical marijuana purchases was a welcome surprise for the state’s cannabis industry and regulators. “I don’t know exactly what attributed to certainly the increase both in medical and recreational, as a bump up in December, but it was kind of surprising to us to see how robust those numbers were,” Vallejos said in a statement quoted by the Albuquerque Journal, adding “The sales (numbers) are interesting in and of themselves, but what I’m encouraged by is the fact that it means a steady cash flow for (businesses) to stay open and to make a profit.” Recreational Marijuana Sales Launched In April In April 2021, New Mexico Governor Michelle Lujan Grisham signed the Cannabis Regulation Act into law, legalizing the use of marijuana for adults and creating a framework for regulated sales of adult-use cannabis. Only a year later, in April 2022, licensed sales of recreational marijuana began at regulated dispensaries in the state. Since the April launch, sales of recreational marijuana in New Mexico totaled more than $214 million in 2022. For the same time period, medical marijuana sales totaled about $144.2 million, according to state data.…

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