New Mexico: $48 Million in Legal Marijuana Sold in February, Total Sales Since 2022 Pass $1 Billion

Legal marijuana sales in New Mexico amounted to approximately $48 million in February.

The New Mexico Regulation & Licensing Department data shows that there was $47,994,956 worth of marijuana sold through licensed retail outlets an dispensaries in February. This is an over $1.5 million increase from the previous month, and an increase of over $6 million from February, 2023. This marks the 12th straight month where legal marijuana sales have been over $45 million.

Out of the total sales of $46 million, recreational consumers bought $35,674,957 worth of marijuana, while medical marijuana patients purchased $12,319,998 worth.

Sales were distributed across 1,086,603 transactions.

According to the Regulation & Licensing Department there are currently 1,050 active marijuana retail licenses, and 2,873 active marijuana business licenses including 402 producers, 459 micro producers, 878 manufactures, 54 couriers, 23 consumption areas, six testing labs and one research lab.

Since April 2022, total sales have reached $1,010,122,710.15, spread across 21,369,687 transactions. Recreational marijuana sales accounted for $678,496,896, while medical marijuana sales totaled $331,625,821.

The city with the most marijuana sales was by far Albuquerque, followed by Sante Fe, Las Cruces, and Sunland Park.

In New Mexico those 21 and older are allowed to purchase and possess up to two ounces of marijuana, up to 16 grams of marijuana extract and up to 800mg of marijuana-infused edibles, via legislation passed in 2021. Marijuana is taxed roughly 5% at the point of sale. Recreational marijuana sales also have an additional 12% excise tax, with medical marijuana sales being exempt.

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