Mexican businessmen are “optimistic” about the upcoming “green economy boom”. This would bring the legalization of marijuana to another stage. The opportunities it represents for industry and the country’s countryside is a big plus.
Potential marijuana market
Guillermo Nieto, president of the National Association of the Cannabis Industry, anticipates that the regularization of marijuana will pass shortly. He estimates that in January 2021, a potential market of $5 billion dollars per year would become active.
For that reason a year ago the Anicann emerged. Now it brings together 200 entrepreneurs ready to invest. As soon as marijuana becomes legal, the country will have the potential to produce up to three times more crops than those of the United States and Canada.
That competitiveness could turn Mexicans into spearheads in a new green economy. In addition, people like to think that Mexico is going to become the main producer of cannabis patients in the world.
Debates in Mexican Congress
Additionally, the debate over marijuana reactivated in the Mexican Congress this month. Congressman Mario Delgado presented a bill to find a state company Cannsalud. It would exercise the monopoly of commerce in the country. In addition to a special tax of 12% will be for social programs.
This proposal considers an unconstitutional absolute prohibition on the recreational use of the plant. However, Nieto sees the current proposals as positive. He believes that the important thing is to establish “clear rules” and “level playing field for all”. So he also asks to create a cannabis cluster, where civil society, business, and government come together to invest in the development and research of the plant.
It’s the new green gold. Today we are thinking that we no longer have oil because we must think about this, which apart from being renewable. Every 20 weeks a farmer can sow again.
We want to form and cultivate an industry with a conscience. Also, to contribute to society through this industry and that is nothing more than economic profits. It is easy for Mexicans to understand.
Given the growing number of initiatives, Snapp suggests that legalization prioritize national producers, especially in areas disproportionately affected by the “war on drugs”. It contemplates three ways to access the plant: self-cultivation, cultivation of associates, and a regulated market.
We have certain legal figures in the social sector of how we can privilege ejidos, communal properties, and small owners. Furthermore, we are really seeing this as one of the actions that are going to be necessary for the construction of peace and for the repair of the year,” he says.
Organizations are struggling to combat the stigma of consumption and disinformation surrounding the properties of the plant. This has more than 100 compounds, known as cannabinoids, not all of which are hallucinogenic. You can use it for industrial and medicinal purposes.
Taxes for hemp cultivation
The Anicann estimates that in Mexico there are only about 7.2 million recreational users, but that there is a potential of 40 million people who could use a product derived from cannabis on a daily basis, such as ointments and painkillers.
The association also estimates that the Mexican government could collect up to $400 million in taxes annually and that farmers could receive more than $3,000 per hectare cultivated.
In America, marijuana has been legalized at the national level in Canada and Uruguay in all its types of use and in the different stages of the production and commercialization chain.
In addition, its recreational use is legal in 11 states and the capital of the United States, where at the medicinal level it is also legal in 33 entities and Washington, D. C., although at the federal level it is still penalized.
On the other hand, its medical use is regulated, with different stages of progress, in Argentina, Chile, Colombia, Peru, and Mexico itself.
(Featured image by Jorge Aguilar)
First published in economiahoy, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. B2I assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. B2I is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Malta Approves Three New Cannabis Clubs and Holds First Harm Reduction Training Sessions
According to Malta's rules on cannabis clubs, only the societies listed on the ARUC website can grow and distribute cannabis...
Of the 346 Fintech Companies in Colombia, 35.6% Focus on the Digital Credit Market
Most of the fintech companies in Colombia, 35.6% of the total, are dedicated to granting digital loans. There are also...
LUNC Capitalization Exceeds $1 billion – How High Will the Price Go?
Terra was designed to power an ecosystem of stablecoins, with the goal of creating more accessible and efficient blockchain applications....
Aspen Pharmacare Buys Sandoz’s Business in China for Over €90 Million
With a history of 170 years, Aspen is a multinational pharmaceutical company with a presence in both emerging and developed...
Vortex Fights Food Waste in Italy
Throwing away food causes a loss of over 22.8 billion euros. Vortex, a company that gives a second life to...
Biotech1 week ago
Laboratorios Rubió Increases Sales by 40% in 2022 and Exceeds €100 million
Cannabis1 day ago
Why the Cannabis Industry in New York Run Into Difficulties
Africa2 weeks ago
Souss-Massa: an SDR Dedicated to Agricultural Innovation
Impact Investing1 week ago
How Much Do We Know About Sustainability: The ESG Culture LAB Report