With recreational cannabis legalization in Mexico on the horizon, there are some broader implications to be aware of…
Cannabis legalization in Mexico has been a long time coming.
Individual citizens and cannabis advocates first set the wheels in motion over six years ago by bringing their cases in front of the Mexican Supreme Court.
They argued it was unconstitutional for the government to deny Mexican citizens the ability to use cannabis on the basis that the prohibition hindered their right to good health and freedom of expression.
So, in October 2018, the Supreme Court made a sweeping declaration that cannabis prohibition in Mexico is unconstitutional, making recreational cannabis use de facto legal.
But laws were still in place that contradicted this ruling.
So, the Supreme Court set an October 2019 deadline for the federal government to enact legislation that would end prohibition.
The Senate leader of Mexico’s ruling party recently confirmed that there will be a vote to legalize by the end of October.
Once legal and commercialized, early estimates value the Mexican market at $11 billion.
The King of Cannabis Exports
The entire region of Latin America is primed to explode.
It has slowly been building an important foothold in the cannabis market.
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That’s because of several factors working in tandem that can help just about any country in the region become a cultivation and exportation powerhouse.
For one, producers can launch low-cost cultivation operations throughout this region. The growing conditions are perfect for outdoor farms. There’s no need to build large, advanced greenhouses as the natural environment provides for a healthy balance of sun and rain.
Labor is also remarkably cheap.
From recreationally legal Uruguay to large, restrictive Brazil, if these countries play their cards right, they could eventually generate massive sales from exporting their low-cost cannabis.
But, who stands to benefit most from the emergence of the Latin American cannabis market?
The Biggest Players in Cannabis’s Quickest-Emerging Market
Many of the world’s largest cannabis companies are already taking steps to move into Latin America.
But other large cultivation operations are popping up in the region, dedicating their entire focus to building a strong footprint in the region.
These moves all make sense as companies clamor to grab a slice of the multi-billion dollar pie that is the Latin American cannabis market.
But, National Institute for Cannabis Investors members can read this free report where I identify three companies in the best position to benefit from both legalization in Mexico and the overall emergence of Latin America’s cannabis market.
While it’s important to know about the opportunity here, I wanted to make sure our readers have some insight into a few of the top competitors in these markets, as well.
Until next time,
Executive Director, National Institute for Cannabis Investors
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6 responses to “What to Know for Mexico’s Impending Cannabis Legalization”
October 17 2019