Authorized marijuana gross sales in New Mexico set a brand new month-to-month file as 2023 got here to a detailed, with adult-use purchases in December climbing to greater than $37 million and gross sales of medical marijuana reaching their highest level since August.
All informed throughout 2023—the state’s first full 12 months of authorized gross sales—retailers bought greater than half a billion {dollars} in hashish merchandise.
In keeping with gross sales figures launched on Tuesday by way of the state Regulation and Licensing Division’s (RLD) Hashish Reporting On-line Portal, or CROP, adult-use retailers in December bought about $37.5 million, whereas medical dispensaries bought simply barely beneath $13 million—for a complete of $50.5 million
Since adult-use marijuana shops opened their doorways in April 2022, the market has seen $608.4 million in whole purchases, with medical gross sales accounting for about $307.5 million.
Larger purchases than in previous months drove December’s gross sales increase, with the typical medical transaction coming in at slightly below $52 and the typical adult-use sale at about $42.50. The typical transaction value in each markets has risen barely up to now two months after the determine in each markets hit their lowest-ever factors in October.
It’s not clear from the publicly accessible gross sales information whether or not the upper averages are as a consequence of costlier merchandise or shoppers and sufferers shopping for extra.
New Mexico Regulation and Licensing Division
Cities with the very best whole recorded adult-use gross sales by greenback quantity embody Albuquerque, Sunland Park, Las Cruces, Santa Fe and Hobbs. Highest whole medical gross sales cities, in the meantime, have been Albuquerque, Santa Fe, Las Cruces, Rio Rancho and Alamogordo.
In keeping with a state labor report launched final June, employees in New Mexico’s marijuana business are having fun with increased pay on common than they have been incomes at their earlier jobs.
In Could, the state regulators added insomnia to the record of qualifying situations for medical marijuana.
Gov. Michelle Lujan Grisham (D) in April accepted a invoice in April to observe by way of on a key objective of the state’s marijuana legalization legislation by facilitating automated expungements for prior hashish convictions. She additionally vetoed laws that very same month that will have revised sentencing legal guidelines and prevented the incarceration of individuals over easy drug possession.
New Mexico was one in all a number of states that noticed record-breaking surges in marijuana gross sales final 12 months.
In August, for instance, Rhode Island bought a file excessive quantity of hashish for the fourth consecutive month, notching $9.7 in month-to-month receipts.
Purchases of adult-use hashish in August additionally broke a file ($23.7 million) in Montana, state officers reported, though medical marijuana gross sales have been at their lowest ($5.0 million) since leisure markets opened in 2022.
Connecticut additionally broke one other marijuana gross sales file in August, with $25 million value of medical and adult-use hashish purchases, state information present.
In Maine, too, marijuana gross sales reached a file excessive in August, with practically $22 million value of purchases, in response to current information from the state Workplace of Hashish Coverage (OCP).
In Maryland, officers just lately introduced that the the state broke anther marijuana gross sales file in August, with practically $92 million value of hashish merchandise bought throughout the state’s second month of authorized adult-use gross sales.
In early September, Massachusetts officers reported that retailers have now bought greater than $5 billion in adult-use marijuana because the state’s leisure market launched 5 years in the past. Gross sales reached $139.3 million in August alone, with the year-to-date whole at $1.05 billion throughout the first eight months of 2023.
Illinois retailers bought $140 million value of leisure marijuana merchandise in July—the strongest gross sales of the 12 months and second highest month-to-month whole for the state because the adult-use market launched in 2020.
Michigan marijuana gross sales additionally reached one other file excessive in July, with practically $277 million value of hashish bought.
In Missouri, in the meantime, retailers have been promoting about $4 million value of marijuana per day on common because the state’s adult-use market opened up in February—and the state noticed a file $121.2 million in hashish purchases in June.
Picture courtesy of Chris Wallis // Facet Pocket Pictures.