Uruguay was the first country in the world to legalise recreational cannabis. Five years after its pioneering law was passed, how’s the industry getting on? “We sold a lot of cannabis on the first day,” says Esteban Riviera, who owns a large, modern-looking pharmacy in Montevideo, Uruguay’s capital. “We sold 1,250 packages in six hours. […]
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Uruguay Betting on Exports of Medical Marijuana
When he was younger, the only thing that Enrique Morales knew about marijuana was that you smoked it to get high. Today, the former driver is a horticulturist on a cannabis plantation about 80 miles (130 kilometers) west of the Uruguayan capital of Montevideo and he says drops of marijuana oil have been key to […]
Uruguay Struggling To Meet Demand Of Legal Cannabis
MONTEVIDEO, Uruguay — Laura Andrade recently walked out of a pharmacy in Uruguay cursing loudly because she couldn’t buy legal pot. The wine sommelier had taken a bus since pharmacies in her neighborhood don’t sell the drug, but a pharmacy employee told her to come back the next day. “I work, I can’t come here […]
Why Cannabis Investors Are Eyeing South America
Almost every week, an American or Canadian cannabis company announces a large overseas investment. And it’s no longer just Germany, Israel and Australia that are piquing investors’ interest. Emerging markets like Jamaica are also turning heads. The largest investment opportunities might be found in other emerging markets — especially South America for cannabis and Southeast Asia for hemp. What […]
Here’s What Uruguay Has Learned From Legalizing Cannabis
Uruguay became the world’s first country to legalize cannabis when pharmacies started selling the product last summer. Things have worked out well so far, the country’s top marijuana regulator said, although challenges remain as producers struggle to secure bank financing and the government grapples with supply shortages. “We moved the frontier of what is possible,” […]
Uruguay Will Produce Medical Marijuana For Export This December
MONTEVIDEO (Reuters) – International Cannabis Corporation will produce Uruguay’s first batch of medical cannabis oil for export in December, the company’s chief executive said Sunday. The Montevideo-headquartered company plans to ship the oil to Canada and Mexico, but is also open to selling it on the domestic market, Alejandro Antalich added. “The goal is to […]
Marijuana Legalization in Uruguay Begins Today
MONTEVIDEO, Uruguay — The rules are a bit of a buzzkill. Drug users must officially register with the government. Machines will scan buyers’ fingerprints at every purchase, and there are strict quotas to prevent overindulgence. But when Uruguay’s marijuana legalization law takes full effect on Wednesday, getting high will take a simple visit to the pharmacy. […]
Weeks from Legalization, Uruguay’s Cannabis Experiment to Look Far Different Than the U.S.
MONTEVIDEO, Uruguay — In coming weeks, cannabis-seeking citizens in this small South American nation will be able to walk into a pharmacy and buy government-approved marijuana for the state-mandated price of $1.30 a gram. No questions asked. No doctor’s note required. If that sounds like an attempt to create a stoner republic on the South Atlantic, would-be […]
Uruguay Sets International Precedent for Marijuana Legalization as Canada Comes Next
OTTAWA – Uruguay‘s envoy to Ottawa says his small South American country has opened up some breathing room for marijuana legalization within international treaties that have outlawed recreational pot for decades. Ambassador Martin Vidal credits his country, the first to legalize recreational cannabis at a national level, as something of a trailblazer for countries like […]
Uruguay Legalizes Recreational Marijuana Sales Through Pharmacies
Uruguay’s three-year process of legalising recreational cannabis consumption reached its final stage on Thursday, when the government said it would authorise pharmacies to begin selling the substance as of July. Sixteen pharmacies have registered with the government of the tiny South American country to be able to sell marijuana for recreational purposes. That number is […]
Uruguay Marijuana Company Shifting Gears Towards Less Regulated Hemp
For all the buzz it’s generating, legalized pot may not live up to the hype. At least not in Uruguay where limits on production and pricing is leading one of two producers to diversify into less regulated hemp. Weeks before selling its first ounce of pot at pharmacies, International Cannabis Corp. is already betting that […]
