January 10, 2014

Uruguay Poised to Export Cannabis

Uruguay is gearing up to export marijuana now that it has legalized cannabis use, with one government official saying the country is “enthusiastic” about tapping the global market.

The move highlights missed opportunities – and future possibilities – for U.S. marijuana companies, which currently cannot sell cannabis to other countries because the drug is still illegal at the federal level.

If the U.S. government ever gets its act together and legalizes marijuana, it could open the door to cannabis exports – and tens of million of dollars in revenues for cannabusinesses.

The demand is sizable: Uruguay has already received inquiries from several countries – including Canada, Chile and Israel – that are interested in importing cannabis for medical use. Research institutes in other countries have also asked about setting up labs in Uruguay to study marijuana.

International demand is set to grow rapidly as more countries look to relax marijuana laws and approve the use of cannabis for medical or recreational purposes.

Last month, Uruguay became the first nation in the world to legalize the cultivation, sale and consumption of marijuana for general use. It is now developing regulations on cannabis businesses and expects to have final rules in place by April.


5 Comments:

  1. The idea that “export opportunities” are going to be lucrative is ridiculous. By the time the international legal climate develops to a point where there is a worldwide market in growing and consuming marijuana because it’s all legal the bud ain’t gonna be worth squat! This is a high that is so ridiculously cheap to produce in quantity that the only thing that will keep the price up is government restrictions. Give me one good sized farm in the tropics and I’ll produce enough high quality bud for half the world to stay stoned! No my friend, once the restrictions are eliminated (if they ever are) this stuff is going to be cheap, cheap cheap!

  2. Will there be any traded companies in
    Uruguay that will benefit?

  3. Yes, genius, that’s why there is no world export market in booze since the repeal of prohibition! Quality herb will be huge business and unlike alcohol, the only to get hurt by it is if a bale falls on you! from way up.

  4. Don’t forget about hemp which should also be legal. Food, clothing, paper, energy etc. Henry Ford even built a car out of it.

  5. What businesses will be traded on stock market?

Post Your Comment:


Please note:
Comments are moderated by our editors who do their best to approve comments ASAP. As MMJ Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.

Advocate: Paraphernalia Sales Legal Under Florida MMJ Bill

marijuana pipe

Florida’s medical marijuana ballot measure will create an overlooked business opportunity: paraphernalia sales. Currently, it’s [click to continue...]

WA Retail Stores Fight Price Gouging

Washington State recreational marijuana shops have had it with the sky-high prices licensed growers are [click to continue...]

Investors Welcome 2 New Canadian MMJ Stocks

Two Canadian cannabis cultivation companies saw their share prices soar on the first day of [click to continue...]

Colorado Rec Tax Structure Safe for Now

coloradocannabis

Taxing recreational marijuana sales is a tricky business, as a Denver judge pointed out in [click to continue...]

Medical Marijuana Industry Burgeoning in WA Town

The town of Port Angeles, Washington, has experienced a marijuana boom in 2014. But the [click to continue...]

Oregon City’s Recall Election Tied to Dispensary

Just because Oregon is poised to legalize recreational marijuana in November doesn’t mean everyone in [click to continue...]

Applicant for Massachusetts MMJ Licenses ‘Befuddled’ by Ruling

MassHealthDepartment

A Denver medical cannabis company says it’s “befuddled” by obstacles it has encountered while trying [click to continue...]

Lawsuits Could ‘Destroy’ Rec Cannabis in Washington State

Federal versus local control over marijuana. That’s the question at the heart of two lawsuits [click to continue...]

Recreational Marijuana Good for Oregon’s Budget, Researcher Says

OregonMedicalMarijuana

Legalizing recreational marijuana in Oregon would represent a “net win” for the state from a [click to continue...]

1st Connecticut Dispensary Opens

The first of six medical marijuana dispensaries formally opened in Connecticut on Wednesday night. The [click to continue...]

Canadian Cultivation Company’s Stock to Debut Monday

Bedrocan

A Canadian company is set to become just the second licensed medical cannabis cultivation business [click to continue...]

No Compensation for California Growers Under Revised Bill

The California State Assembly keeps going in circles when it comes to medical marijuana, and [click to continue...]

Poll: Support for Rec Marijuana Erodes in Alaska

Marijuana advocates in Alaska may be in for a disappointment come November. The latest survey [click to continue...]

Colorado Edibles Companies Expanding Amid Sky-High Demand

edibles2

Edibles manufacturers in Colorado are aggressively boosting production to meet overwhelming demand for infused candies, [click to continue...]