Legalizing Marijuana Could Generate US$ 60 billion in Mexico

By Elliot Bullman

The deregulation of marijuana could generate an industry of up to $ 60 billion dollars in Mexico, according to estimates by the National Traffic Light Organization.

Pot private equity firms and medical marijuana growers, all look at Mexico as a big business opportunity.

CANNABIS

Daniel Sparks, head of government affairs at BioTrackTHC, which is a US-based provider of marijuana supply-chain software, is of the opinion that just like US, Mexico bootleggers and mafia lords will give up on illicit moonshine once prohibition ends.

“The drug gangs will have little interest in legal marijuana if the market appoints reputed tech and pharmaceutical firms”. He added that even if there is opposition from the cartels, medical and recreational marijuana programs are already depleting the drug lords’ profit margins.

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Recently, Enrique de la Madrid, Secretary of Tourism, said that the sector requires strategies related to increased security, including the legalization of marijuana in the country.

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"I think Mexico is so big that we should think about differentiated exercises, as they have done in the United States, where although the issue of marijuana consumption and production is still banned at a federal level, it is a fact that in different states, such as in California, it has been legalized for medical and recreational purposes. It is absurd that as a country we do not take that step.

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Similarly, he pointed out that in view of the difficulties to legalize marijuana throughout the country, it could be done only at specific points such as Baja California Sur and Quintana Roo, two of the most important tourist destinations in Mexico.

In June 2017, the Official Gazette of the Federation (DOF) announced the medicinal use of pharmacological derivatives of cannabis sativa, indica and American or marijuana.

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