NM’s recreational cannabis sales see slight drop in May

Albuquerque leads way in sales; $2.5M total paid to state in excise taxes

Customers had more than five on it, as the state said cannabis businesses realized about $21.1 million in recreational sales in the month of May.

Medical cannabis sales did $17.4 million — combining for a total sales month of about $38.5 million, according to data released by the state’s Cannabis Control Division on Thursday.

The sales number for both recreational cannabis and medical cannabis were slightly lower than in April, when adult-use sales began and when the state realized nearly $40 million between the two.

In April, recreational sales accounted for more than half of all sales with $22.1 million.

“These sales figures depict a steady pace that we expected when adult-use cannabis was legalized,” said Kristen Thomson, the state’s Cannabis Control Division director. “Our staff continues to work diligently to ensure applicants move through our licensing process efficiently, and ensure licensees operate within a safe, accessible, and effective regulated market.”

In May, Albuquerque — the state’s largest city — again led the way in cannabis sales.

Recreational cannabis sales accounted for $7.3 million of the combined $14.3 million in overall sales.

Santa Fe did $1.7 million in adultuse sales, Las Cruces did nearly $1.8 million and Rio Rancho did $762,872.

In fact, Rio Rancho’s medical sales were larger overall, bringing in about $960,071.

Towns bordering Texas — many of which are in the oil-rich part of the state — also did well.

Sunland Park realized nearly $1.3 million in adult-use sales, while Hobbs did about $1.2 million, according to the data.

Recreational cannabis sales are taxed — a 12% cannabis excise tax and a local GRT are applied to purchases — and the state’s Taxation and Revenue Department also released numbers last week for the month of April.

Charlie Moore, the department’s spokesman, said businesses paid about $2.5 million to the state in cannabis excise taxes — up from the state’s initial news release that mentioned a little more than $2.4 million. GRT payouts by cannabis businesses totaled more than $1.6 million.