The North America cannabis industry is set to become the major producer of cannabis after the legalization of cannabis in Canada. In October 2018, Canada legalized the use of marijuana for recreational purposes nationwide. It is the first country member of G-7 to do so. The US, on the other hand, only have ten states that have legalized recreational use of cannabis. Thirty-two states, on the other hand, have legalized medical grade cannabis.
The US dominates the global sales even though a few states have legalized its use. California, Washington, and Colorado are three of the states that sell cannabis globally. Now, Mexican President-elect Andres Manuel Lopez Obrador wants to legalize the substance as well. According to Interior Secretary Olga Sanchez Cordero, a senator said that cannabis is the cause of poverty and violent drug wars.
In case Mexico is successful in legalizing cannabis, it will join Uruguay, Canada, and some US states in the elite list. As a result, the North American market will experience a substantial increase in legal sales. It will be a significant growth driver for the global industry. In data compiled by Imarc Group, the legal cannabis market in North America is worth US$8 Billion in 2017. Moreover, by 2023, it can reach up to US$35 Billion. Also, the market expects to post a healthy CAGR of 28%.
Mexico is considering cannabis legalization to control its current drug war. On the other hand, Canada and the US used cannabis for economic and medicinal purposes. They use marijuana to treat different conditions like post-traumatic stress disorder, epilepsy, chronic pain, depression, and cancer. Economically, Canada earns US$48.5 Million in legal sales during the first two months after legalization.
US States like Colorado and California earned at least US$1 Billion in sales in 2017. Nevada and Michigan are also vying to achieve the same. The cannabis legalization in Canada left the US and other countries to decide on cannabis legality. According to Democratic Oregon Senator Ron Wyden, prohibiting the sales and production of cannabis is a failed policy that destroys lives and wastes resources.
Earlier today, Blueberries Medical Corp. more previously announced that it entered into a joint venture agreement with India Colorada, a leading artisanal brewer and producer of Colombia’s oldest craft beer to develop, research, and commercial cannabis-based beverages that are non-alcoholic for sale in Latin America.
About India Colorada
India Colorada owns Cerveza Colon, the original brand of craft beer in Colombia. It has an aggressive plan for the next decade to renew the image of the beer and formulation of unique new recipes.
About Blueberries Medical Corp.
Blueberries Medical Corp. is a licensed producer of premium quality, naturally grown cannabis in Colombia. Its primarily operates in central Colombia, particularly in Bogota Savannah and has a specialized team with unique expertise in agriculture, extraction, marketing, genetics, pharmacology, and medicine. It has a full license to cultivate, produce, and distribute locally and internationally medical cannabis. Blueberries Medical combines agricultural advantages, scientific expertise, and distribution contracts. It is now a leading international supplier of processed, naturally grown, and standardized medical grade cannabis oil extracts.