New Mexico posts best month of cannabis sales with $40.3 million in July

New Mexico’s cannabis market is gathering steam, with sales figures for July the strongest since the adult-use program launched in April.

During the month, retailers sold a total of $40.3 million worth of cannabis, with $23 million of that from adult-use sales and the rest medical, according to a news release from the governor’s office.

The July sales total tops April, previously the best month to date at $39 million. June figures were slightly less than $38 million.

“These numbers show that the impressive sales generated in the first month of legalized recreational cannabis sales were no fluke – and this is only the beginning,” Gov. Michelle Lujan Grisham said in the release.

MJBiz’s family of newsletters gives cannabis professionals an edge in this rapidly changing industry.

“We’ve established a new industry that is already generating millions of dollars in local and state revenue and will continue to generate millions more in economic activity across the state, creating thousands of jobs for New Mexicans in communities both small and large.”

New Mexico’s population centers – Albuquerque, Hobbs, Las Cruces, Rio Rancho and Santa Fe – posted the highest sales in July.