Mexico eyes boom from legalized cannabis production

Mexico has the potential to become the main supplier of cannabidiol (CBD) in the world, El Universal reports.

Cannabidiol is a raw material derived from marijuana which is used to produce food supplements and drugs for the treatment of various diseases. According to Jorge Treviño, general director of BeHemp, though the sale of cannabis-based products in Mexico is still a ‘virgin’ market, its value is estimated at approximately 8 billion dollars in Canada.

At a press conference, he explained that the Canadian industry can only generate one crop per year, while in Mexico it could produce up to three per year, due to weather conditions.

“Although Canada is one of the main suppliers and the largest in America, we could triple their harvest, which would make us one of the main hemp suppliers in the world,” he said.

When presenting the Chamber of the Cannabis Industry in Mexico, made up of pharmaceutical companies such as Hempmeds, Master Pharmacies, CBD Life, Be Hemp and Dr. Brooners, he commented that, though the law does not allow cultivation for industrial use, they expect that the initiative presented by the new Minister of Interior, Olga Sánchez Cordero, will enable them to grow marijuana.

They explained that, at this time, the import of CBD cannabis or hemp is the only option available. If the culture of marijuana for industrial use were legal, it would allow them to lower their product prices.

In this regard, they stated that there is still a cultural fear of “legalizing a product that has only been distributed through drug trafficking,” but through this initiative, pharmaceutical companies hope to give the marijuana industry room for growth. They also stated that in the last weeks of December they will begin to market their first cannabis products.

Text: El Universal

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