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New Mexico cannabis sales top $1 billion

Cannabis sales in New Mexico officially topped the $1 billion mark last week, less than two years after the state legalized the substance.

Gov. Michelle Lujan Grisham announced the sales mark on March 5, less than a month before the second anniversary of legal cannabis sales in the state.

Tucumcari has recorded more than $9.2 million in adult-use and medical cannabis sales from more than 157,000 transactions since legalization began in April 2022.

Twelve registered dispensaries have opened in the city.

In the past year, Tucumcari has averaged about $500,000 in total marijuana sales per month.

The far east Quay County settlement of Glenrio has seen more than $580,000 in sales since a dispensary opened there in September, yards from the border of Texas, where recreational cannabis remains illegal.

The Village of Logan has seen about $338,000 in total cannabis sales since legalization.

Albuquerque remains the top city in New Mexico for cannabis sales, with more than $202 million in adult-use products being sold since legalization.

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

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