It’s now been two months since the legalization of recreational marijuana in New Mexico, and the demand for cannabis has remained high. New Mexico recreational cannabis sales continue to surge even after a strong opening month.
Victor Reyes is the deputy superintendent for the New Mexico Regulation and Licensing Department. Reyes said, “this is an industry that can produce 300 million dollars annually, create 11 thousand new jobs and $50 million in state revenue, in just the first year.”
The Cannabis Control Division recently released the statewide number of cannabis sales in our state. In April, our state pulled in $22 million in recreational cannabis sales, and that’s just over half of the total cannabis sales, which reached almost $40 million.
In the month of May there was a slight decrease but not by much. Our state sold around $21 million in recreational cannabis, and it accounted for almost 55% of total cannabis sales.
“We’re seeing a constant, you know, a constant commitment to this industry to this product, we see New Mexican, supporting New Mexico businesses,” Reyes said.
Before recreational cannabis was legalized, there were some concerns about whether the spike in demand would take away from medical patients and their access to medicinal cannabis.
Steve Pear is the president of the New Mexico division of Schwazze. Pear said, “by the mandate from the Governor, you know, we’re we have to hold back 25% of the sales for medical, you know, the medical sales are more than 50%. The most surprising and exciting thing is that the medical business is very strong.”
Reyes said a big part of the increase is because medical cannabis patients know the product’s benefits and want to support the recreational program. Reyes also says the Cannabis Control Division is working with the New Mexico Department of Health to make sure all medical customers can access their medicinal products consistently.
READ THE FULL STORY:Cannabis sales continue to surge in New Mexico
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