It’s no joke: Starting April 1, New Mexico’s 118 dispensaries will be able to sell flowers, oils, and edibles to all residents over the age of 21. This will be the start of legal cannabis sales, almost a year after the vote on the so-called ‘HB2’ law. The local market is valued at $125 million the first year, then $400 million after five years, according to calculations by MJBizDaily.
In stores, consumers will be able to purchase up to two ounces (about 60 grams) of flowers, with a maximum THC content of 35%. It will also be possible to obtain 16 grams of extracts (wax, budder, resin, etc.) or 800mg ofedibles (cookies, infused chocolate, etc.).
As New Mexico already authorized medical cannabis, patients treated with the plant will have access to products with higher THC doses. As for self-cultivation, already authorized, residents will be able to grow up to six mature plants at home.
The potheads fill the coffers of this semi-desert state in the American Southwest in their own way. A 12% excise tax will apply on cannabis sales. Taxation is on average for other US states, between 9 and 37%.
Residents of neighboring Texas rub hands
Paradoxically, it’s not the 2 million New Mexicans who rub their hands the most… but rather their Texan neighbors. They are ten times more numerous – 20 million – and have almost no access to cannabis. Their medical program is very limited. And cannabis for adult use is illegal. It can cost you 6 months in jail and a $2,000 fine.
“According to our study, 40-42% of purchases will be made by residents of other states, particularly Texas”predicts Duke Rodriguez, the boss of the largest chain of dispensaries in New Mexico, quoted by the Santa Fe New Mexican.
The merchants of New Mexico will therefore not deprive themselves: they set up their stalls as close as possible to the border with Texas. Carlos Enriquez, the chief of police in Anthony, Texas, expects more and more arrests for possession of cannabis.
