KOAT 7 reported that in December, New Mexico’s cannabis sales for adults hit a new high of $28 million. When compared to the previous record for the state, set in October 2022 at $25 million, this number is significantly higher. For all of 2022, the state’s 563 shops racked up total sales of more than $352 million from both the medical and recreational markets for cannabis.
Everest Cannabis Co. CEO Trishelle Kirk claims her business “doubled in size” in the past year, with the addition of 100 new employees and the launch of five new retail locations.
According to the Cannabis Control Division (CCD) figures detailed by the Albuquerque Journal, medical cannabis sales in New Mexico hit $15.1 million in December, the highest total in four months and $1.1 million more than November’s totals.
Acting CCD Director Andrew Vallejos expressed surprise at the “strong” results and said he did not know what prompted the increase in cannabis sales in December.
Vallejos told the Journal, “The sales (numbers) are interesting in and of themselves, 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.”
The city of Albuquerque raked in the most revenue for New Mexico, with $8.4 million in sales for recreational use and $6 million for medical use. In December, patients who needed medical cannabis spent an average of $52.57, while customers who used the drug recreationally spent an average of $45.31 according to a report in Ganjapreneur.