More recreational cannabis cultivation production is coming online in New Mexico, and new retailers are establishing the connections they need to secure supply.
At the same time, some warn that production could soon outpace demand and the coming fall “Croptober” outdoor harvest could flood the market and depress prices.
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Ben Lewinger, executive director of the New Mexico Cannabis Chamber of Commerce, a 140-member, statewide organization based in Albuquerque, said the market has shifted dramatically in the past four to six weeks.
The wholesale price per pound is evidence of that, Lewinger said, where six to eight weeks ago a wholesale pound of flower was in the $4,000 range.
“Now it’s in the $2,200-$2,500 range, because there’s more availability and people have connections to support a vibrant wholesale market,” he said. “I think that’s only going to get better.”
Most recent state sales data shows that the market is
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