Adult-use cannabis sales in New Mexico broke another monthly sales record in October reaching $25 million, according to Cannabis Control Division (CCD) data outlined by the Albuquerque Journal reports. It marks the first time adult-use cannabis sales have surpassed $25 million in a month in the state.
During October, medical cannabis sales in New Mexico reached a new low – $14.7 million – since the launch of adult-use sales. The number of patients in the state fell by 473 since September 2021.
Overall, both medical and adult-use sales for October were $39.8 million. To date, adult-use sales have reached $161 million since the market launched in April, the report says.
New Mexico’s border towns represent a third of adult-use sales. Sunland Park, with a population of less than 20,000, sold more than $1.5 million in adult-use cannabis in October. The town’s dispensary customers are largely Texans. Hobbs, which borders West Texas, sold $1.47 million in adult-use cannabis during the month, while sales in Clovis, which also borders West Texas, reached $713,010 in adult-use sales.
In Albuquerque, the state’s largest city, adult-use sales reached a new record of $8.1 million in October, while Las Cruces sold about $1.73 million in adult-use cannabis. Sales in Santa Fe declined from September to $1.84 million, according to CCD data.
Reilly White, an associate professor with the University of New Mexico’s Anderson School of Management, said Albuquerque’s record sales month could be due, in part, to the Balloon Fiesta which boosted tourist traffic.
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