According to the latest data gathered by the Mexican Council on Cannabis and Hemp, the Latin America country should be considered as a perfect place for cannabis, thanks to its excellent climatic, geographical, agricultural and social conditions. It’s expected that Mexico would benefit greatly from the development of the cannabis sector, generating around $6 billion a year in revenue.
In the face of the economic and health crisis caused by the COVID-19 pandemic around the world, various global industries are seeking alternatives to contribute to the country’s economy and, at the same time, promote regulations for social welfare.
According to data from the Mexican Council on Cannabis and Hemp, the cannabis industry in Mexico could contribute around $6 billion a year to the economy, provided there is adequate regulation and development of this sector. Also, according to experts, Mexico has excellent conditions for the development of the cannabis industry.
Specialists from Mexico, the United States, and Canada met at the first online conversation “Mexico after COVID-19, the regulation of cannabis and hemp in the country’s economic recovery process”, on May 28th to discuss the possibilities of developing the cannabis industry in the Latin American country.
In this sense, the topics were approached from the business, scientific, legal, and social spheres, looking for a way to break the stigma surrounding this plant and to promote the development of the cannabis sector.
If you want to know more about cannabis, how cannabis could change the landscape of Mexico’s economy thanks to the right conditions for the development of this sector, and to find out the latest cannabis news, download the Hemp.im mobile application.
Mexican Council on Cannabis and Hemp is promoting the use and legalization of cannabis
It is worth mentioning that the Mexican Council on Cannabis and Hemp was developed as a civil society organization with the aim of seeking synergy between scientists, health professionals, business people, and citizens in general in order to achieve a transition to the legality of cannabis, its derivatives, and hemp.
The president of the Council, Eda Martínez Pazarán, pointed out that this type of initiative is the first step towards proposing interdisciplinary solutions to diversify sources of income “in an environment that, now and at least, is very vulnerable economically. Inaction and omission in urgent times are not only indolence but also complicity.”
Mexico as a perfect country for cannabis development thanks to its climate
On the other hand, Dario Mercado Esquivel, secretary of the Council, urged participants to share their experiences with cannabis and its derivatives. “Their comments allow us to figure out what is happening around cannabis and hemp at this time in Mexico; they also allow us to glimpse the possibilities that Mexico will have to achieve an inclusive regulation, which adequately integrates the different factors that affect a market with these characteristics,” said the Secretary.
Francisco Cervantes Diaz, president of the Confederation of Industrial Chambers (Concamin), as well as Enrique Octavio Garcia Mendez, secretary-general of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur Mexico), agreed that after the crisis caused by the pandemic, the business and industrial sector of the country will face the “new normal” and will change production processes, vital to achieve good economic growth.
Thanks to Mexico’s excellent climatic, geographical, agricultural, and social conditions, the country has great potential for the development of the cannabis and hemp industry. These benefits would also favor consumption and the internal market, such as the production, distribution, and commercialization of cannabis and its derivatives.
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First published in MyPress, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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