Latin America hosts some of the most progressive medical marijuana deregulations in the world. A total of eight countries have legalized some form of medical marijuana use across Central and South America.
Each country’s legislation permits different levels of cultivation, distribution, and manufacturing, which can represent significant monetary gains for investors and the nations themselves.
Here is PotNetwork’s overview of how deregulation is affecting distribution in Mexico, Colombia, Uruguay, Panama, Argentina, Chile, Peru, and Brazil.
Cannabis has been de-regulated in Mexico since 2009, but there continues to be no path for legal cultivation. Instead, the country imports cannabis products and provides licenses to firms for pharmacy distribution.
HempMeds Mexico, a subsidiary of Medical Marijuana Inc. (OTCMKTS:MJNA) and Green Lotus, a private company based in Colorado, are among the companies licensed to supply CBD products to pharmacies. Seven pharmaceutical companies, four based in Mexico, received licenses to distribute 38 CBD products in the initial licensing process in late 2018.
The Mexican government is currently evaluating a bill that would legalize recreational and medical marijuana use in the country.
Colombia is historically one of the most infamous names in the cannabis market, though not due to its deregulation. The country decriminalized small amounts of cannabis in 2009 and in 2016 deregulated cultivation.
More than any other country, Colombia seeks notoriety for its internal and external distribution and has already provided a license to Khiron to build a top grade medical processing facility.
In February, Clever Leaves became the first Colombian cannabis company to receive an import license in Canada. Clever Leaves, Khiron Life Sciences Corp (OTCQB:KHRNF) (TSXV:KHRN), and Blueberries Medical Corp.