Uruguay Anticipates Cannabis for Sale in 2016
Ryan Allway
October 7th, 2015
Policy, Top News
Uruguay granted licenses to two companies to grow cannabis for commercial distribution and indicated that the drug should go on sale in pharmacies next year, according to Reuters.
Start-ups Symbiosys and Iccorp were selected to produce two tonnes of marijuana each year with the government stepping in to provide security for the perimeter of the plantations. Under the law, householders can register and grow up to six plans and marijuana users on the government’s official list may buy up to 40 grams per person per month at pharmacies. Pharmacies are expected to carry the drug no less than eight months from now.
After becoming the first country in the world to legalize marijuana, the South American country faced a number of challenges that prevented the government from meeting its own deadlines in implementing the legislation passed almost two years ago. These challenges included deciding how to regulate the quality of the drug and ensure that the price would undercut the cheaper pot being sold illegal by drug cartels and other criminals.
The country’s legalization program is being closely watched across Latin America where legalization and decriminalization is increasingly seen as a better solution that the U.S.-led War on Drugs. With the legalization program in force, the country’s leadership hopes to undercut the black market and defund criminal operations. The country’s estimated 150,000 recreational smokers make it the perfect place for such an experiment to occur.
In the end, Uruguay could provide the world with a compelling case study in 2016 and 2017 as data from the program becomes public and researchers access it. Success could lead many other countries in the region to take similar steps, while potentially setting a precedent for actions in numerous countries around the world – including the United States.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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