Mexico prepares for legal marijuana gold rushPosted by On


MEXICO CITY Mexican and foreign companies are lining up for a share of what experts say is likely to become one of the world’s biggest legal marijuana markets, worth billions of dollars.

Mexican lawmakers are close to approving legalization that is expected to catapult the country’s regulated cannabis trade past that of pioneers like Uruguay and Canada, whose populations are much smaller.

“Mexico is positioning itself as the biggest market in the world at the country level, ahead of the United States and Canada,” said Erick Ponce, president of the Cannabis Industry Promotion Group.

“There’s room for everyone,” said Ponce, whose organization includes 25 Mexican and foreign companies.

The legislation is partly aimed at curbing drug-related violence that claims thousands of lives each year in the country of 126 million people.

The bill was passed by the lower house of Congress last week and is expected to sail through the upper house when it holds another vote following modifications.

According to various forecasts, Mexico’s recreational and medicinal cannabis market will be worth $5-6 billion by 2025, part of a global market expected to be valued at $73.6 billion in 2027, according to consultancy firm Grand View Research.

Legal sales are projected to generate up to $1.7 billion in annual tax revenue for Mexico, according to estimates by Congress and the Mexican Cannabis and Hemp Council, a…

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MEXICO CITY Mexican and foreign companies are lining up for a share of what experts say is likely to become one of the world’s biggest legal marijuana markets, worth billions of dollars.

Mexican lawmakers are close to approving legalization that is expected to catapult the country’s regulated cannabis trade past that of pioneers like Uruguay and Canada, whose populations are much smaller.

“Mexico is positioning itself as the biggest market in the world at the country level, ahead of the United States and Canada,” said Erick Ponce, president of the Cannabis Industry Promotion Group.

“There’s room for everyone,” said Ponce, whose organization includes 25 Mexican and foreign companies.

The legislation is partly aimed at curbing drug-related violence that claims thousands of lives each year in the country of 126 million people.

The bill was passed by the lower house of Congress last week and is expected to sail through the upper house when it holds another vote following modifications.

According to various forecasts, Mexico’s recreational and medicinal cannabis market will be worth $5-6 billion by 2025, part of a global market expected to be valued at $73.6 billion in 2027, according to consultancy firm Grand View Research.

Legal sales are projected to generate up to $1.7 billion in annual tax revenue for Mexico, according to estimates by Congress and the Mexican Cannabis and Hemp Council, a…



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