– Cannabis/Marijuana Industry News

Uruguay, which pioneered national weed legalization five years ago, may soon become the first nation in Latin America to export cannabis for medical purposes, too.

The Uruguay government plans to export six tons of medical marijuana to Germany, Australia, and Canada through a partnership with Fotmer, a US life sciences company. To date, Fotmer is the only company licensed by the Uruguayan government to export the nation’s cannabis.

“The market is growing,” Jordan Lewis, one of Fotmer’s owners, told the Buenos Aires Times. Describing Uruguay’s federal marijuana program as “visionary,” he added that the company’s “aim is to become the main provider of medical marijuana” around the world.

According to Grand View Research, a marketing firm, the global medical cannabis market may hit $55.8 billion in sales by 2025.

Currently, Uruguay permits recreational marijuana, but only for citizens. Recreational use among foreigners and tourists is technically illegal, although enforcement for possession of small amounts remains a low priority.

Uruguay may become the first Latin American country to export its medical weed, but it won’t be the only one. Colombia has also nationalized many of its legal cannabis farms, and companies there plan to export marijuana and marijuana extracts in the near future, as well.

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