In April, monthly marijuana sales in New Mexico once again surpassed $50 million.
According to the latest data from the New Mexico Regulation & Licensing Department, the state saw $51,107,738.68 in legal marijuana sales during April, spread across 1,162,438 transactions. This sum, which falls roughly $1.4 million short of the record-breaking amount sold last month, includes $12,854,179.26 from medical marijuana patients and $38,253,559.42 from recreational consumers.
As of the end of April, New Mexico has 1,003 active marijuana retail licenses and a total of 2,843 active marijuana business licenses. The business licenses include a diverse range of entities such as producers, micro producers, manufacturers, couriers, consumption areas, testing labs, and research labs.
Since the legalization began in April 2022, total sales have now reached $1,113,737,654.90, distributed across 23,712,517 transactions. Recreational marijuana has been the major contributor to these sales, with $756,214,979.49 in total sales.
Albuquerque continues to lead the state in marijuana sales, followed by Santa Fe, Las Cruces, and Sunland Park.
In New Mexico, individuals aged 21 and older can legally purchase and possess up to two ounces of marijuana, 16 grams of marijuana extract, and 800mg of marijuana-infused edibles, as per legislation enacted in 2021. At the point of sale, marijuana is subject to an approximate 5% tax. Additionally, recreational marijuana incurs a 12% excise tax, while medical marijuana sales are exempt from this tax.
In recent weeks the United States Customs and Border Protection (CBP) has been seizing massive amounts of marijuana from state-licensed marijuana businesses in New Mexico, while detaining and in some instances arresting employees. This has led to Governor Michelle Lujan Grisham confronting the Secretary of Homeland Security Alejandro Mayorkas, who said that marijuana remains illegal federally and thus the seizures will likely continue.
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