NEW MEXICO (KRQE) – New Mexico cannabis retailers sold $24.2 million in recreational cannabis in August. That tops the state’s previous record from July by over half a million dollars.
The numbers suggest that interest in New Mexico’s cannabis industry hasn’t waned since sales began back in April. That first month, retailers sold $22.1 million worth of recreational cannabis.
The increased sales are leading some experts to wonder if New Mexico’s cannabis industry might be growing too fast. KRQE News 13 recently reported that some are predicting that the boom could be over soon, potentially forcing smaller operations to rethink their business plans.
But sales numbers show no signs of slowing. In August, Albuquerque retailers alone sold nearly $8 million in recreational cannabis, data from the Cannabis Control Division shows. If you include Rio Rancho’s sales, the metro area sold well over $8.5 million worth.
Santa Fe, Las Cruces, Hobbs, and Sunland Park each also sold over $1 million in recreational cannabis in August. And even in some smaller towns, retailers are cashing in. Socorro retailers sold over $100,000 worth of recreational cannabis. Roswell sold over $400,000 worth.