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Population(m) 650 GDP(US$ t) 5.3 TotalHealthcare Expenditure (US$ b, est.) 354 Total Pharmaceutical Expenditure (US$ b,2016) 117 Totalof Cannabis Users (%, est.) 5.4 Source: World Bank/Prohibition Partners
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Hemp is legal in Brazil, Chile,Colombia, Jamaica, Mexico, Peru and Uruguay.
According to data from BDS Analyticsin partnership with Arcview Research, the Latin American legal cannabisspending is expected to grow from $125 million in 2018 to $776 million by 2026.
Brazil
Hemp oil was legalized for medicalcannabis products in 2015, however, Brazil doesn’t allow its production withinthe country.
Chile
Chile is expected to be the largestmarket in the region and would account for around 39% of Latin America’sindustrial hemp market.
Colombia
Growing hemp has been legal inColombia since 1986.
Jamaica
Hemp was legalized in 2015.
Mexico
Mexico is the second largest LatinAmerican market for industrial hemp products, taking a 15% share. On June 19,2017 President Enrique Peña Nieto signed a bill into law that officiallylegalized the cultivation, production, and use of medical cannabis productswith less than 1% THC in Mexico.
Peru
On February 23th 2019, thegovernment approved the regulation of Law No. 30681 that regulatesthe medicinal and therapeutic use of Cannabis plant and its derivatives.
Uruguay
Cannabis and hemp have been legal inUruguay since 2013. Uruguay allows up to 1% THC in its hemp production. About400 hectares were planted in 2016, and in 2017, nine companies receivedauthorization to plant around 1,200 hectares, according to the country’sMinistry of Agriculture.
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