Cannabis Consulting in Mexico: What’s Next in the Adult-Use Cannabis Market?
Although cannabis in Mexico may not be legal just yet, Mexico’s lawmakers finally seem ready to approve an adult-use cannabis market. Mexico has the potential to become the world’s most lucrative cannabis market. With that, our cannabis consultants in Mexico recommend that you and your team begin preparing immediately to increase your chances of winning a license. A cannabis license in Mexico can make you some serious profits. Let’s take a look at what is next for this market.
Update: Adult-use cannabis is officially legal in Mexico. With that, Mexico is set to be the country with the largest adult-use marijuana market. The Mexican marijuana industry could be worth as much as $3.2 billion annually.
Delays on an Adult-Use Cannabis Market in Mexico
To begin with, Mexico approved a bill on November 19, 2020, for Mexico to legalize cannabis. There have been many delays in the approval of the adult-use cannabis market in Mexico. Finally, Mexican lawmakers agree to resume talks about this approval in February 2021. The Mexican Supreme Court will reach an agreement by April 2021. This is the fourth extension within the Mexican Supreme Court. Make sure to talk to our cannabis consultants in Mexico early so that you can plan your application process for when the market is officially set. Now that the bill for adult-use cannabis passed, contact us for a head start on your business plan.
Rules on the Cannabis Market in Mexico
The legislation in Mexico establishes a regulated cannabis market that allows adults 18 and older to purchase and possess up to 28 grams of marijuana. Additionally, individuals can cultivate up to six plants for their own personal use. Also, this legal adult-use market allows all previous cannabis convictions to be expunged from individuals’ criminal records within the first six months. This is beneficial as Mexico’s detention centers contain persons who are in these centers with only a few grams of cannabis. Lastly, public consumption is prohibited unless that public place allows tobacco products. As you can see, the rules differ in comparison to most regulations within the states.
Cannabis Licenses Available
To begin with, for the first 5 years of the legal adult-use market, at least 40 percent of cannabis business licenses in Mexico shall go to indigenous, marginalized, or low-income communities. This creates fairness within the application process. Additionally, the bill for this cannabis market contains a strong emphasis on sustainability. Talk to our cannabis consultants in Mexico for more information on social equity and environmental plans within cannabis applications in Mexico.
The adult-use cannabis market in Mexico allows for four different cannabis licenses within the country. These licenses include:
A cultivation license allows for the acquisition of seed, sowing, cultivation, harvest, and the preparation of cannabis. Additionally, this license allows a maximum authorized area for cultivation. Talk to a cannabis consultant in Mexico about how much land you can have for the cultivation of products.
This license allows for the preparation, transformation, manufacturing, and production of cannabis within Mexico.
Next, a sale license allows the distribution and sale of cannabis and its’ products
Finally, this license includes the acquisition of seed, sowing, cultivation, harvest, preparation, and transformation of cannabis and its’ properties. Additionally, in order to apply for this license, a research protocol authorized by the Institute has to be available.
For more information on license types that are available within the adult-use cannabis market in Mexico, contact our cannabis consultants in Mexico by clicking the button below.
All in all, once Mexico officially legalizes the adult-use market in Mexico, it will be the third country to legalize adult-use cannabis. The next steps for Mexico include approval by the lower legislative chamber and the president of Mexico signing it into law. After the law is approved, a cannabis agency shall be established and secondary rules shall be written. Keep up with our cannabis consultants in Mexico so you can know the next steps for the adult-use cannabis market.
Finally, for more information about cannabis licenses in Mexico contact our cannabis business consultants here.