The Mexican Senate has approved the legalization of cannabis for recreational use. If Congress also approves this proposal later this year, Mexico will become the world’s largest market for legal weed.
Companies such as Canadian Canopy Growth, The Green Organic Dutchman and Medical Marijuana from the US state of California have already expressed an interest in doing business in the Central American country.
According to Fortune Business Insights represented the global wietmarkt a value of around 10.6 billion dollars (8.9 billion euros) in 2018 and will increase to no less than 97 billion dollars in 2027. This has everything to do with the fact that cannabis is becoming a legal product in more and more countries.
The proposal in Mexico is to allow users to have a maximum of 28 grams of cannabis in their possession. They are also allowed to grow four plants for their own use. Sales to adults from professional businesses are permitted, subject to a maximum level of “psychoactive ingredients”.
The legalization of weed in Mexico is intended to remove the product from the criminal sphere. The proposal to legalize recreational marijuana follows on from allowing its use for medicinal purposes in 2017. In 2018, the country’s highest court stated that this should also apply to recreational use.