In the global cannabis marketplace, Latin America is a region on the rise, with more business opportunities emerging and a developing consumer marketplace. With a population of 655 million and over 30 countries, Latin America offers the perfect conditions for growing high-quality raw material, extracting the oil, and producing finished goods at a relatively low cost. These products can then be exported to other counties within the region and the U.S. and Europe. While there is currently a lack of regulatory standardization and commonality from country to country, there is an excellent opportunity for dialogue between countries to find common ground and create standards around hemp to make trade easier. Latin American associations and groups are discussing the issues and challenges around cannabis and hemp production—and standardization of regulations would only provide a benefit to companies operating in these countries. Regulatory change won’t happen overnight, but it would be in the best interest of everyone involved.
420 Intel – Marijuana Industry News, 04/26/2021 20:00:00