Even though marijuana is still illegal in many countries around the world, it’s prominence is increasing day by day. Taken from a Gallup report which stated 66% of the US population is in favor of cannabis legalization. From null to bulk, the US currently has 33 states that have approved some form of legal marijuana program as well as 10 among them approving recreational marijuana as well.
Not just the US, but also 40 other countries have legalized medical marijuana. Two of them have already allowed recreational marijuana, i.e. Canada and Uruguay. Canada was the first in this run to wholly legalize it throughout the country in 2018.
Who can be the next one?
A marijuana moment, an online publication of cannabis says it will be Mexico next up in the run. Mexico will be on this list before this October. Mexico has already legalized medical marijuana and now Mexico is looking forward to becoming the third country to legalize recreational cannabis.
The members of the Mexican Senate have been ordered by the Supreme Court to do so. Even when a survey was held to know the will of the common mass, 80% of them favored fully legalizing marijuana.
Mexico’s laws state that if the Supreme Court announces 5 times the same result on any matter then it has to be uniformly executed in the whole country. And in the context of recreational marijuana, the same has happened since 2015. SC declared the ban on recreational marijuana as unconstitutional. So, now the Senate is obliged to prepare laws in this regard.
Marijuana Moments reported that the lawmakers will be finalizing these laws before 31 August and between the summer recess (1st May- 31st August). This is so because the deadline assigned by the SC is the month of October to legalize recreational marijuana.
The future of the legalization of recreational marijuana in Mexico shows it surpassing Canada in his regard. It is possible by reducing the interference of the opponents and quick execution of the laws. Canada is currently having the most progressive marijuana market. It is because, among its 37 million population, 1 out of every 6 adults use marijuana. Another side, Mexico is populated with 130 million people. So, if Mexico gets the same or more popularity as that of Canada, it can easily beat Canada in this context.
Two companies involved in this regard
Currently, Mexico does not hold a bunch of companies dealing with marijuana. But the probability shows the involvement of two companies in the future with the introduction of recreational marijuana. These are-
Currently, Aurora Cannabis is Canada’s largest hashish producer. It will be leading as well as most benefiting from marijuana production in Mexico. This is because in Dec 2018 it announced of acquiring the Farmacias Magistrales (the first company to import, store, manufacture and sell Cannabis in Mexico) of Mexico. Farmacias has a healthy network in Mexico which will help Aurora a lot here.
When Farmacias was acquired by Aurora Cannabis, it had a 12,000 sq. feet area for the production and contact with approximately 80,000 retailers for the production and sale of marijuana. As Aurora focuses on a wide range of community of marijuana, Farmacias suited it. With the legalization of recreational marijuana in Mexico, there will be an enormous hike in the production sector of Farmacias.
Another huge company in this regard with a worldwide presence is the Canopy Growth. Its medical marijuana brand, on the global level, has found a home for there product in Colombia, Chile, and Peru. Canopy Growth has clarified that they will secure a workspace in Mexico after the legalization has been introduced. Also, though it doesn’t have a benefit like that of Aurora having $ 3.7 billion will cause the least hindrances to Canopy Growth to build an empire in Mexico.
So, there is no more limitation in the market of recreational marijuana as, now along with USA and Canada, Mexico will also be a part of this run.