ALBUQUERQUE, N.M. (KRQE) – Month two of recreational cannabis sales in New Mexico shows that the industry is still strong, if not slowing down just a bit. The state says total recreational sales in May added up to $21.1 million. That’s only about $1 million in sales less than last month, when cannabis sales launched.
May sales figures from the Cannabis Control Division (CCD) show that Albuquerque topped the list of cities with the most recreational sales, with $7.3 million in total sales. Santa Fe and Las Cruces followed close behind with both cities generating over $1.7 million in recreational sales each.
“These sales figures depict a steady pace that we expected when adult-use cannabis was legalized,” CCD Director Kristen Thomson said in a press release. “Our staff continues to work diligently to ensure applicants move through our licensing process efficiently, and ensure licensees operate within a safe, accessible, and effective regulated market.”
When retail sales are combined with medical sales, across the state retailers generated $38.5 million in total cannabis sales in May, according to the CCD. That means that 54.76% of total sales in May were recreational sales and 45.24% of statewide sales were medical sales.
In April, New Mexico generated more than $2.4 million in cannabis excise taxes. It will likely be a few more weeks before the state releases how much tax revenue it made from May’s cannabis sales.
