Latin America CBD Outlook In Colombia, Brazil, Chile, Mexico, Peru And Argentina
A recent report by Brightfield Group addressed how countries in Latin America are treating CBD. The market report indicated that there are a number of countries that have legalized CBD for medical use, and these countries include Columbia, Mexico, Chile, Brazil, Peru, and Argentina.
The report reads, in part,
“The near-term opportunities for CBD in Latin America are more promising than for marijuana, as the continent struggles to shake the stigma and negative legacy of the war on drugs and powerful drug cartels.” Further, “CBD products provide a welcome alternative for countries with a high level of stigma towards marijuana and the importation of non-psychoactive oils avoid a competition with or diversion to the black market.”
The report indicates that in Columbia, retailers that are licensed by the INVIMA, the food and drug regulatory agency in the country, can legally sell supplements, tinctures, capsules, topicals, and other products. Further, the report indicates that there is a strong potential in the country for CBD products. On the other hand, there are high costs associated with the products, which can be a challenge.
As for Mexico, the Federal Commission for the Protection Against Sanitary Risk, allows for the sale of CBD products where there is a commercialization license and the product has under 1% THC content.
The report indicates, “It is likely that other US-based CBD companies will come to distribution agreements with companies in Mexico, bringing a winder range of brands and product types to the Mexican consumer.”
Brazil has not legalized CBD entirely – rather, it is only legal for medical use by patients who have received approval from a doctor. The report reads,
“The market potential for CBD products in Brazil is huge.” In addition, “As the domestic cultivation industry grows alongside retail sales of CBD products, we expect marketing trends to promote the country’s prime growing conditions and drive further interest in CBD.”