CIBOLA COUNTY, N.M. – The latest cannabis sales data for June 2024 indicates mixed results for Cibola County's marijuana market, with noteworthy trends in both the Village of Milan and the City of Grants.
While Cibola continues to make significant contributions to the marijuana market, the first summer month was not as successful as previous months this year. Despite the slower month, the market is still roaring strong.
In June, Cibola sold $190,975.45 in marijuana across both the Village of Milan and the City of Grants. Cibola has a population of 26,780 people as of the 2023 US Census Bureau’s local data; not every citizen uses marijuana, but if every citizen contributed to the local sales, that would amount to $7.13 per citizen.
Grants' Market Performance
In June 2024, the City of Grants reported total marijuana sales of $7,263,403.34 from 171,754 transactions.
The sales include $123,701.23 in adult-use recreational marijuana sales and $61,926.24 in medical marijuana sales.
In total, Grants has earned $2,968,468.76 in total medical sales from 64,168 transactions and $4,294,934.58 in adult-use sales from 115,684 transactions.
June marked the slowest month on record for medical marijuana sales in Grants. Despite this, the overall market remains robust, contributing significantly to the local economy.
Milan's Market Performance
The Village of Milan reported a total of $128,552.43 in marijuana sales for June 2024.
This includes $83,156.89 in adult-use recreational marijuana sales and $23,317.32 in medical marijuana sales.
In total, Milan's market has achieved $608,021.98 in total medical sales from 3,851 transactions and $479,469.55 in adult-use sales from 14,804 transactions.
For the first time since legalization, Milan’s adultuse recreational sales did not set a new monthly record, slightly falling short of May’s figures. However, the medical marijuana market saw a new record.
Cibola County's Market Share In June 2024, Cibola County's total marijuana sales amounted to $190,975.45 ($83,156.89 in Milan and $123,701.23 in Grants for adult-use sales, and $23,317.32 in Milan and $61,926.24 in Grants for medical sales).
This places Cibola's contribution to the state's overall marijuana market at a notable level. Statewide, June 2024 saw $11,559,066.49 in medical sales and $36,513,095.44 in adult-use sales, totaling $48,072,161.91 from 1,148,950 transactions across 1,006 dispensaries.
Cibola County's sales represent a small but important portion of New Mexico's total cannabis market, highlighting its importance in the state's burgeoning industry.
The continued cannabis sales in Cibola County reflect the broader success of New Mexico’s marijuana industry.
The tax revenue generated from these sales plays a crucial role in funding public services and community projects. The 12 percent excise tax on adult-use cannabis and the gross receipts tax on medical marijuana provide substantial fiscal support to local governments, enhancing infrastructure and quality of life.
In the City of Grants, the tax share is dedicated to the Grants Recreation Department. The Village of Milan has not dedicated their share of the tax to any particular fund, allowing it to fall in the general fund.
Safety and Compliance
As the summer season progresses, the New Mexico Cannabis Control Division (CCD) urges consumers to follow state laws and practice safe consumption habits. Todd Stevens, the Cannabis Control Division Director, wanted to emphasize the importance of adhering to regulations, especially during outdoor events.
It is illegal to consume cannabis in public spaces like festivals and expos, and it should only be consumed in licensed consumption lounges or private residences.
The CCD recommends purchasing cannabis only from licensed dispensaries, never driving under the influence, and keeping cannabis products away from children and pets. The compliance team will be inspecting businesses to ensure they follow the law and protect public safety. For more information on responsible cannabis use, visit YesandKnowsNM.com or file complaints about noncompliant businesses at rld.nm.gov/cannabis/reporta- violation.
The New Mexico Regulation and Licensing Department, which houses the CCD, continues to ensure that the state’s cannabis industry operates within legal parameters, providing quality services and maintaining public safety. For more details, visit rld.nm.gov.