Cannabis sales in New Mexico officially top $1 billion, including over $33 million in Rio Rancho

Gov. Michelle Lujan Grisham announced Tuesday that cannabis sales in New Mexico have topped $1 billion in adult-use and medical sales. The sales record comes a month prior to the second anniversary of legal adult-use cannabis sales in New Mexico.

Cannabis consumers have purchased more than $678.4 million worth of adult-use cannabis products and $331.6 million in medical products since April 1, 2022. To date, the state has recorded more than 21 million transactions with $75 million in cannabis excise taxes going to the state general fund and local communities.

“This is a huge milestone for New Mexico’s cannabis industry,” said Lujan Grisham. “Nearly two years after beginning sales, New Mexico is on the map as a premier hub for legal and safe cannabis and the thriving business community that comes with it.”

Albuquerque remains the top city in the state for cannabis sales, with more than $202 million in adult-use products being sold since legalization. Sunland Park, one of the many communities that has been impacted by cannabis tourism, recorded $57.4 million in adult-use sales.

Rio Rancho ranks sixth in the state with $$33,896,345.19 total cannabis sales. There have been $15,398,496.73 in medical sales (fourth in New Mexico) and $18,497,848.46 in adult-use sales (No. 9 in the state).

Bernalillo is 19th in the state with $6,223,072.66 total sales.

As of March 1, 2024, the state has issued 2,873 cannabis licenses across New Mexico, including 1,050 retailers, 878 manufacturers, and 459 micro producers.