On April 1, the New Mexico adult marijuana market will officially launch

New Mexico's adult marijuana market, which officially launches on April 1, is expected to reach $400 million in sales within five years, a large portion of those customers will come from the neighboring state of Texas. The New Mexico adult cannabis market is characterized by unlimited licensing and a policy of micro-enterprise support.

2021, New Mexico has passed the Recreational Marijuana Act.

From 1 April, all authorized businesses will be able to sell recreational cannabis products. However, many new manufacturers and retailers are still in the process of applying for municipal licences and opening their businesses, so sales of adult cannabis in newly licensed businesses are expected to be slower than those of existing medical cannabis operators. As of last week, existing medical marijuana operators had opened 171 marijuana stores in New Mexico.

New Mexico's adult marijuana policy has some unusual features, such as unlimited licenses, the creation of a micro-enterprise category, and discounts on license fees for retailers who accept consignments of marijuana products from micro-manufacturers. In addition, the state drought, water resources are very valuable, so there are special environmental provisions.

According to MJBizDaily, adult marijuana sales in New Mexico will rise to $100 million to $125 million in the first year and $325 million to $400 million in the fifth year. In addition, Texas will play a key role, with many New Mexico retailers opening marijuana stores near the Texas border.

Headquartered in Arizona, duke Rodriguez, chief executive of Ultra Health, New Mexico's largest marijuana company, said last year: “Our research shows that 40 to 42 percent of adult marijuana sales will come from out-of-state purchases, especially in Texas.” In 2019, before the outbreak, the state has 38 million visitors.

Kristen Thomson, New Mexico's head of marijuana control, said the state's microenterprise system was designed to support local small businesses, it also secured support for the state's 35 vertically integrated medical marijuana operators. As of last week's new approvals included 35 manufacturers and 35 micro-manufacturers. The so-called micro-producers refer to those whose cultivation is limited to 200 cannabis plants