Cannabis prices set new record in New Mexico (again)


Cannabis wholesalers and retailers set new record prices in New Mexico last month according to a survey of industry businesses by Weeds, the state’s largest cannabis business and services company.

Highlights from the July industry report:

  • The state is now seeing its first 30+% THC flower on the shelves at select retailers
  • Southern New Mexico prices remain 20% higher, on average, than the Albuquerque/Santa Fe market
  • Retail prices are down from April 1 highs, but still remain abnormally high compared to more mature adult-use markets
  • Wholesalers set new record prices for wholesale per-pound sales across all levels of THC and product

A quick note: These prices and information is not intended as an advertisement for or endorsement of any strain, dispensary or product listed here. It’s just information. Prices and availability change daily. Consult your local dispensary for current information.

Flower prices.

MID-THC (below 16%)
Albuquerque, Santa Fe and surrounding areas
StrainTHC%RetailerLocation$/gm
Cherry Passion11.49%Everest Cannabis.ABQ$10
Docs OG12.47%Pecos Valley Prod.ABQ$9
I.D. Mimosa14.9%Oso CannabisSanta Fe$11
Pyromaniac15.38%Urban WellnessABQ$10
Girl Scout Yeti15.55%PurLifeSanta Fe$12

The price for mid-THC cannabis in this market range from $9 to $12/gram, with an average of $10.40/gram. Prices have continued to fall slowly from their high in April when the adult-use market opened to new retailers and customers without sufficient supply to fill all the licensed stores in the region.

Southern New Mexico
StrainTHC%RetailerLocation$/gm
Killer Queen XX14.6%Green GoodsLas Cruces$12
Mimosa14.6%Pecos Valley Hobbs$12
Orange Cookies Chem15.1%Oso Cannabis CoLas Cruces$13
Girl Scout Yeti15.55%PurLifeLas Cruces$12
AK-4815.73%SWOPRuidoso$14

The price for mid-THC cannabis in this market range from $12 to $14/gram, with an average of $12.66/gram. Strains in this THC range are still limited in this market and prices likely reflect the extra distribution costs due to limited production facilities in this part of the state and higher gas and distribution prices for delivering product from facilities in Albuquerque. Additionally, this market has seen higher than average sales in border and tourist towns catering to Texas customers. Prices in Ruidoso, a popular vacation spot for Texans, appear to reflect this.

HIGH-THC (16-24%)
Albuquerque, Santa Fe and surrounding areas
StrainTHC%RetailerLocation$/gm
Citris Sweet19.49%Dulce CannabisABQ$13
Purple Tangerine19.55%Sawmill CannabisABQ$11
Euphoria20.80%Ultra HealthLas Vegas$8.99
Grape Kush Mints21.1%Fruit of The EarthSanta Fe$12
Rugburn OG23.6%KURE DispensarySanta Fe$14

The price for THC cannabis in this market range from $9 to $14/gram, with an average of $11.80/gram. There is much more diversity of strains and pricing in this range. Large integrated retailers such as UltraHealth consistently maintain the lowest price in this range. Independent retailers (without integrated production or manufacturing capacity) appear to be focussing on adding new strains to their shelves and maintaining consistently affordable pricing in the Albuquerque market.

SOUTHERN NEW MEXICO
StrainTHC%RetailerLocation$/gm
Forbidden Wine20.2%Sandia BotanicalsLas Cruces$15
Gelato20.65%PurLifeAlamogordo$10
Snoop’s Dream21.1%Everest CannabisSunland Park$12
Hell’s Banana #921.2%PurLifeLas Cruces$10
Super Lemon Haze22.1%SWOPRoswell$12
Slurricane24.67%iCannaLas Cruces$15

The price for THC cannabis in this market range from $10 to $15/gram, with an average of $14.80/gram. Just as with other levels in the market, prices in Southern New Mexico continue to be 20-25% higher than those in Albuquerque.

Consumers in this THC range can find good deals by shopping around. In Las Cruces, for example, we found 20%-ish THC strains for between $10-$15/gram, a 50% price difference between dispensaries less than 10 miles apart. As expected, strains on the higher end of the scale are asking higher price points.

TOP SHELF-THC (25+%)
Albuquerque, Santa Fe and surrounding areas
StrainTHC%RetailerLocation$/gm
PVP Golden Goat27.0%Pecos Valley ProductionAlbuquerque$11
Cotton Candy27.4%CG CorriganPlacitas$10
Wedding Punch28.57%Enchanted BotanicalsAlbuquerque$14.99
Banana Cake 2129.4%Sawmill CannabisLos Lunas$13
The Beavs30.6%Prohibition 37Albuquerque$14

The price for THC cannabis in this market range from $10 to $15/gram, with an average of $12.60/gram — though the majority of this segment is priced in the $13-$15/gram range.

New Mexico is now seeing its first 30+% THC products on the market and, as expected, they command some of the highest prices seen to date. Prohibition 37 is offering a 30.6% THC flower for $14/g. Enchanted Botanicals is offering a 28.5% THC product at 14.99/g. The best deal for your money in this category we found at CG Corrigan. They offer 27% Cotton Candy flower for $10/g.

SOUTHERN NEW MEXICO
StrainTHC%RetailerLocation$/gm
SNM Arise25.2%Everest CannabisLas Cruces$13
PVP Golden Goat25.5%Pecos Valley ProductionRoswell$11.86
Grape Ape 26.1%MunchiezRuidoso$14
Garlic Cookies30.0%Sandia BotanicalsLas Cruces$13
Runtz27.81%Sol CannabisLas Cruces$14

The price for THC cannabis in this market range from $11 – $14/g. The average price is $13.72/g. This is consistent with top-shelf prices around the rest of the state.

Wholesale prices.

Wholesalers continue to command record prices as additional dispensaries open, tightening the already limited supply market for flower available to retailers and producers.

Weeds. provides wholesale brokerage services between producers/cultivators and manufacturers and retailers. Our survey of wholesale pricing comes from interviews with producers offering surplus flower for sale.

Flower GradePrice/lb.Availability
Outdoor low, mid-level THC (<20%)$2700-$2900Average
Outdoor high-grade, >20% THC$3000-$3200Low
Indoor high-grade, >20% THC$3200-$3400Very Low
Indoor, >27% THC$3400-$3600Very Low
All prices vary depending on quality, bag appeals, and terms negotiated between buyers and sellers.

New Mexico’s market is still enduring a supply shortage and producers with surplus product are able to command record prices. We have heard of some transactions for 30%+ THC reaching $3500/lb. on small per-pound lots.

Analysis

New Mexico appears to be the most expensive cannabis market in the country, for the moment. This is mostly due to the hangover effects of adult-use sales launching in a system with low barriers to entry for independent retailers that opened lots of stores without sufficient supply. Integrated licensees that formerly sold wholesale have mostly held onto their own products, further restricting the supply.

Buyers and consumers should expect prices to maintain this level for another 6-8 weeks until more new producers are able to bring products on the market which will likely increase competition. Additionally, some early autoflower outdoor products are expected on market late summer which should lower prices on the low end of the scale.

About Weeds.

Weeds. is New Mexico’s largest cannabis business and services company providing licensing, compliance, policy and industry intelligence for the state’s cannabis industry.

The company has launched a new industry insider monthly report, In The Weeds, available to verified industry workers, vendors and press. Sign up at weeds. team.

A note about our methodology: Prices are based on strains and prices posted by retailers, picked at random, on their online websites and on interviews with wholesalers and retailers during the last week of the month.


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