January 10, 2014

Uruguay Poised to Export Cannabis

Uruguay is gearing up to export marijuana now that it has legalized cannabis use, with one government official saying the country is “enthusiastic” about tapping the global market.

The move highlights missed opportunities – and future possibilities – for U.S. marijuana companies, which currently cannot sell cannabis to other countries because the drug is still illegal at the federal level.

If the U.S. government ever gets its act together and legalizes marijuana, it could open the door to cannabis exports – and tens of million of dollars in revenues for cannabusinesses.

The demand is sizable: Uruguay has already received inquiries from several countries – including Canada, Chile and Israel – that are interested in importing cannabis for medical use. Research institutes in other countries have also asked about setting up labs in Uruguay to study marijuana.

International demand is set to grow rapidly as more countries look to relax marijuana laws and approve the use of cannabis for medical or recreational purposes.

Last month, Uruguay became the first nation in the world to legalize the cultivation, sale and consumption of marijuana for general use. It is now developing regulations on cannabis businesses and expects to have final rules in place by April.


5 Comments:

  1. The idea that “export opportunities” are going to be lucrative is ridiculous. By the time the international legal climate develops to a point where there is a worldwide market in growing and consuming marijuana because it’s all legal the bud ain’t gonna be worth squat! This is a high that is so ridiculously cheap to produce in quantity that the only thing that will keep the price up is government restrictions. Give me one good sized farm in the tropics and I’ll produce enough high quality bud for half the world to stay stoned! No my friend, once the restrictions are eliminated (if they ever are) this stuff is going to be cheap, cheap cheap!

  2. Will there be any traded companies in
    Uruguay that will benefit?

  3. Yes, genius, that’s why there is no world export market in booze since the repeal of prohibition! Quality herb will be huge business and unlike alcohol, the only to get hurt by it is if a bale falls on you! from way up.

  4. Don’t forget about hemp which should also be legal. Food, clothing, paper, energy etc. Henry Ford even built a car out of it.

  5. What businesses will be traded on stock market?

Post Your Comment:


Please note:
Comments are moderated by our editors who do their best to approve comments ASAP. As Marijuana Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.

Minnesota MMJ Companies Raise $30M

The two companies selected to grow and dispense medical cannabis in Minnesota have raised a [click to continue...]

Canadian MMJ Crackdown On the Way?

Medical marijuana businesses in Vancouver, British Columbia, may soon be in the city’s crosshairs. The [click to continue...]

Seed-to-Sale Tracking Trend Continues With New Mexico

seed to sale

An increasing number of states are requiring cannabis companies to track every plant from seed [click to continue...]

Oregon Catering to Cash-Carrying Cannabis Businesses

The agency in charge of overseeing Oregon’s recreational marijuana industry is planning to add a [click to continue...]

Bill Would Prevent Feds From Targeting Compliant MJ Companies

Cannabis business owners harassed by federal prosecutors despite operating legally in their respective states would [click to continue...]

Florida Medical Marijuana Measures Fizzle Out

FloridaMedicalMarijuana

An attempt to legalize medical marijuana in Florida this year via the state Legislature is [click to continue...]

Ohio Group Claims Sabotage in Legalization Efforts

An Ohio organization pushing for medical marijuana legalization in the state says a stronger, more [click to continue...]

California Industry Association Head Faces Suit to Close Dispensary

A dispensary run by the president of the California Cannabis Industry Association has come under [click to continue...]

Oregon Expects 2,000 Applicants for Recreational MJ Licenses

Oregonoutline

Oregon officials in charge of regulating the state’s up-and-coming recreational marijuana industry expect roughly 2,000 [click to continue...]

Marijuana Testing Lab Seeks $5 Million for International Expansion

One of the first commercial cannabis testing labs in the United States is seeking $5 [click to continue...]

Anti-Marijuana DEA Chief to Resign

The head of the Drug Enforcement Agency will resign next month, prompting cheers from cannabis [click to continue...]

Las Vegas Dispensary With ‘Snowball’s Chance’ Moves Forward

Vegasphoto

The owners of a planned Las Vegas dispensary held a ceremonial groundbreaking on Monday despite [click to continue...]

Another Poll Finds Strong Support for Marijuana Legalization

Yet another national poll has revealed that attitudes towards legalizing cannabis have grown more tolerant [click to continue...]

60% Plunge in Washington Recreational MJ Prices

Washington State cultivators must be hurting. The average price of a gram of retail cannabis [click to continue...]

Marijuana Business Daily