Latin America Cannabis Industry & Marijuana Business News

Mexico to allow sales of marijuana-based products in 2018

Mexico has approved the sale of cannabis-based products, but without any licensed cannabis businesses, the goods must be imported.

Beginning next year, the sale of cannabis-derived medicine, food, beverages, makeup and other products will be permitted in Mexico, according to Reuters.

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Paraguay legalizes medical marijuana cultivation

Paraguay is poised to become the latest nation to reform its marijuana laws with the passage of a bill that would allow the country to begin importing cannabis seeds for cultivation and then government-controlled sale of medical products. According to Reuters, President Horacio Cartes is likely to sign the bill, since it was supported by […]

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Report: International cannabis market will surpass $31 billion

The international legal marijuana market will reach $31.4 billion by 2021, according to a study by the Brightfield Group, a cannabis market research firm. It’s the second major international cannabis report released in the past two weeks. In the first, London-based Prohibition Partners published its own research estimating that Europe’s medical and recreational markets could combine […]

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Canadian firm receives license for sizable marijuana grow in Colombia

Canadian company PharmaCielo Ltd. said it has been granted the first Colombian licenses to cultivate marijuana with unrestricted percentages of THC and CBD, creating a major opportunity for the company to grow and process medical cannabis. Until now, the Colombian government allowed cultivation of only non-psychoactive cannabis with little to no THC, according to a […]

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Peru’s Congress approves medical cannabis law

Peru’s Congress overwhelmingly approved a medical marijuana bill that also has the support of President Pedro Pablo Kuczynski, putting the country in line to become the latest in Latin America to legalize some form of cannabis. The bill, approved Thursday, allows the cultivation of medical cannabis, as well as the production, commercialization, and importation of cannabis […]

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Banking troubles for Uruguay’s recreational cannabis businesses

It didn’t take long for recreational marijuana businesses in Uruguay to encounter a key challenge that hinders U.S. cannabis companies: banking. Uruguayan pharmacies began selling adult-use cannabis July 19, but the South American nation’s banks are refusing to do business with companies tied to marijuana. A government official – speaking on the condition of anonymity – said […]

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Week in Review: Canadian premiers mull recreational marijuana delay, Uruguay begins adult-use sales & Hawaii’s MMJ still on hold

By Matt Lamers, John Schroyer and Bart Schaneman Canada’s provinces consider delaying the launch of the nation’s recreational marijuana industry, adult-use cannabis goes on sale in Uruguay, and Hawaii’s health department stalls the country’s medical MJ market. Here’s a closer look at some notable developments in the marijuana industry over the past week.

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Uruguay to begin recreational cannabis sales July 19

Legal sales of adult-use marijuana in Uruguay will begin next week at a limited number of pharmacies, and more than 5,000 people have registered as customers. Recreational marijuana will be available starting July 19 in 5-gram amounts at 16 pharmacies nationwide, the South American country’s Cannabis Regulation and Control Institute said in a statement. The cannabis […]

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Mexican president signs medical marijuana legalization decree

Mexican President Pena Nieto made it official this week: His nation is the latest to legalize cannabis for medical purposes. Many of the details of the country’s MMJ program are still unclear, and it seems that only low-THC marijuana will be permitted, which could mean the black market and Mexican cartels would still profit from […]

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Canadian producer Tilray expands its cannabis export market

Tilray, a major licensed Canadian medical marijuana producer, expanded its international reach with recent MMJ exports to Cyprus and Chile. Tilray, which is owned by Seattle-based Privateer, said its shipment to Cyprus consisted of Tilray drops, a medical cannabis extract product. Tilray’s agreement with Chile calls for its MMJ products to initially be sold through pharmacies in […]

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Peruvian government seeks to legalize medical cannabis

Peru could become the latest country to legalize medical cannabis if a bill proposed by the nation’s president is approved by the legislature. President Pedro Pablo Kuczynski decided to back the move after a raid in the capital city of Lima unveiled a group of parents growing cannabis so they could produce oils with which to […]

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Tilray to begin exporting MMJ from Canada to Chile

One of Canada’s 38 licensed medical cannabis producers said it will begin exporting MMJ products to Chile starting this month. Tilray, a subsidiary of Seattle-based Privateer Holdings, is teaming up with Alef Biotechnology SpA on the export deal, according to a news release. Based in Nanaimo, British Columbia, Tilray estimates the potential MMJ patient base in […]

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