NM recreational cannabis sales reach new high in August - Albuquerque Journal

NM recreational cannabis sales reach new high in August

Local vendors let customers smell their products at The Jam Spot on April 20 in Downtown Albuquerque. The cannabis industry brought in $24.2 million in recreational sales in August, according to the state’s Cannabis Control Division. (Roberto E. Rosales/Journal)

It was another record-shattering month for recreational cannabis sales in New Mexico.

The state’s cannabis industry in August brought in $24.2 million in adult-use sales, according to the state’s Cannabis Control Division. That is a new record high, surpassing July’s adult-use sales of $23.5 million.

Overall sales numbers, which includes medical cannabis transactions, stood at nearly $40.7 million in August, according to the data. That number is up from July’s overall sales of $40.3 million, which at the time was also a record high.

Leonard Salgado, the director of business development and expansion for Pecos Valley Production, said the introduction of recreational cannabis has been a boon for his business over the past few months.

The company plans to expand to 30 storefronts by next September, competing with the likes of the state’s largest cannabis company in Ultra Health, thanks to high sales numbers that have helped the business realize a 100% increase year to date.

“It’s had a trickledown effect across all operations,” Salgado told the Journal. “We’re bullish on the cannabis industry.”

Albuquerque did nearly $8 million in adult-use sales and $6.6 million in medical sales, according to the data. That number is up on the adult-use side from July, but down on the medical side by more than $250,000. And Albuquerque hasn’t done more than $8 million in adult-use sales since April.

Santa Fe brought in $1.9 million in recreational sales, slightly more than in July. And they also did about the same in medical sales — $1.6 million — as in July, according to the data.

Rio Rancho sold more medical cannabis than recreational, bringing in $805,783 on that end and $749,385 in adult-use sales, according to CCD.

Sales numbers were also high in tourist towns.

That includes Ruidoso, which saw $741,639 in adult-use sales and Taos, whose cannabis establishments sold $410,625 in adult-use cannabis.

New Mexico’s border towns near Texas, who have seen large adult-use sales numbers since April, continue to perform well in sales, according to CCD.

Las Cruces took in $1.8 million in recreational sales and nearly $1.5 million in medical sales. Sunland Park did more than $1.3 million in adult-use sales and Hobbs did nearly $1.3 million in sales, according to the data.

Carlsbad did $794,310 in adult-use sales and about $370,620 in medical sales. Clovis brought in $674,106 in recreational sales. Anthony saw $442,017 in adult-use sales, according to the data.

Overall, border towns — including Texico, Roswell, Portales and Clayton — made up more than a 30% of overall recreational sales, according to the data. Salgado said Pecos Valley opened a second location in Hobbs last month and that they expect to open their Artesia location in the next couple weeks.

“We’re bringing jobs and bringing revenue (to this region),” Salgado said. “It’s having an effect on small towns.”

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