New Mexico’s adult-use cannabis sales reached yet another record in December with $28 million in sales, KOAT 7 reports. The total breaks the state’s previous $25 million sales record from October 2022. In all of 2022, combined medical and adult-use cannabis sales by the state’s 563 dispensaries topped $352 million.
Trishelle Kirk, CEO of Everest Cannabis Co., said her company “doubled in size” last year, adding 100 jobs and opening five new stores.
“We saw an enormous amount of expansion in the cannabis industry in 2022. Now, the industry is going to mature. We’re going to see prices come down as the market matures and expands. We’re going to see even more customers saying this is a good option for their families.” — Kirk to KOAT 7
Medical cannabis sales in New Mexico reached $15.1 million in December, according to Cannabis Control Division (CCD) data outlined by the Albuquerque Journal – the highest total in four months and $1.1 million more than November’s totals.
CCD Acting Director Andrew Vallejos told the Journal that he was unsure was caused the bump in cannabis sales in December and described the “robust” numbers as “kind of surprising.”
“The sales (numbers) are interesting in and of themselves,” Vallejos told the Journal, “but what I’m encouraged by is the fact that it means a steady cash flow for (businesses) to stay open and to make a profit.”
Albuquerque led the state in sales with $8.4 million in adult-use transactions and $6 million in medical sales. In December, medical cannabis patients spent on average $52.57 compared to $45.31 for adult-use customers.
Get daily cannabis business news updates. Subscribe
End