How Mexico’s Legal Cannabis Market Impacts Domestic And International Markets

Mexico appears set on finally passing federal legislation after a series of delays.

Per federal law and five Supreme Court rulings in its favor, Mexican lawmakers were required to amend cannabis regulations. But it missed deadlines in October 2019 and April 2020. The Senate’s failure to reach a consensus and the suspension of operations during the pandemic served as primary delays.

The next deadline is Dec. 15, 2020, and Mexico now appears poised to pass legislation. The plans were recently confirmed by President Andrés Manuel López Obrador.

Instituto RIA co-founder Zara Snapp explained to Benzinga that support for legalization comes two-fold. Growing public support joins the Supreme Court rulings that bind Congress for the plant.

Snapp, who works to promote public policy through a social justice framework, reported that support has grown across Mexico over the past seven years. According to Snapp, medical support now sits around 90%, while adult use jumped to near 50% more recently.

Differing Views On Market Regulations

Snapp pointed out the lawmakers have presented a bill that goes beyond the bare minimum requirements put forth by the Supreme Court ruling, which called for lifting restrictions on personal cultivation.

“The Senate has decided to put forward a bill that is much broader and encompasses a …

Full story available on Benzinga.com

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