Latin America: The new cannabis promise

The last few months have undoubtedly been significant in terms of cannabis legalisation and regulation in Latin America. Brazil approved its first cannabis product for manufacturing and marketing; Colombia is moving forward with its plan to export cannabis extracts; and Uruguay approved a new Bill to regulate the access of medical cannabis. In times of COVID-19, this unexpected news shows the growing economic interests in the region. However, uncertainty still reigns, raising questions as to whether it is a tangible future or a mere mirage. If you are thinking of making your next big move in Latin America, here is what you need to know about its cannabis market. Uruguay In December of 2013, Uruguay became the first country to pass a Bill for cannabis legislation to end drug trafficking. The state body responsible for all cannabis activities, including issuing licenses, regulation of imports activities, production, storage, marketing and distribution of marijuana or its derivatives, is The Institute for the Regulation and Control of Cannabis (IRCCA), who reports directly to The Ministry of Public Health. [I] Non-psychoactive cannabis cultivation must be authorised by the Ministry of Livestock, Agriculture, and Fisheries and registered in the (IRCCA), and the National Institute of Seeds (INASE) looks into everything related to seed production.  Uruguay considers cannabis plants or its parts that do not contain more than 1% tetrahydrocannabinol (THC) as non-psychoactive, alongside seeds that do not exceed 0.5% THC.  Adult-use: Currently, there are three ways to access cannabis for adult-use: Self-cultivation (up to 6…

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Source : seedman
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