New Mexico Sets Monthly Record With $52 Million in Legal Marijuana Sold in March

In New Mexico there was over $52 million in legal marijuana sold in March, a new monthly record.

According to data released by the New Mexico Regulation & Licensing Department, there was $52,507,206 worth of legal marijuana sod in March, just the second time monthly marijuana sales have passed $50 million (December, 2023 was the only other month). $13,042,682 of March’s sales came from medical marijuana patients, with recreational consumers purchasing $39,464,523 worth of marijuana and marijuana products.

March’s marijuana sales were distributed across 1,180,392 different transactions.

As of the end of March, there are currently 1,027 active marijuana retail licenses, 23 less than February. In total there are 2,886 active marijuana business licenses, 13 more than last month. This includes 406 producers, 4563 micro producers, 8902 manufactures, 55 couriers, 26 consumption areas, six testing labs and one research lab.

Since April 2022, total sales have reached $1,062,629,916.22, spread across 22,550,079 transactions. Recreational marijuana sales accounted for $717,961,420, while medical marijuana sales totaled $344,668,504.

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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