MJBizMag March 2021 - 27

© 2021 Marijuana Business Daily, a division of Anne Holland Ventures. All rights reserved.
Data is current as of Feb. 15, 2021.
The development demonstrates the success of
legalization, experts say, though more needs to be done to
put the regulated industry on firmer ground to compete with
the legacy market.
Falling prices, a wider breadth of consistent inventory
and growing retail options have all contributed to the legal
market's success. " Price decreases on key verticals of dry
flower have been essential for transitioning many of those
consumers, " said George Smitherman, CEO of industry
group Cannabis Council of Canada.
Mexico's MMJ Program Offers Opportunity
to Enter New Adult-Use Industry
Marijuana and hemp companies keen to participate in
Mexico's emerging medical cannabis program should start
preparing now, attorneys advise, noting it will give businesses
a leg up once the nation's adult-use industry launches.
The Mexican Congress faces an April 30 deadline to
legalize cannabis for all uses under a directive from the
country's Supreme Court, which concluded the plant's
prohibition was unconstitutional.
Although Mexico legalized cannabis for medicinal use in
2017, it took the federal government three years to publish
regulations, which are still being tweaked. The Mexican
government has begun setting a regulatory structure for
medical cannabis in the country, making it possible for
companies to start applying for research licenses to bring
products to market.
Attorneys expect the federal government to start issuing
licenses by June. Imports are limited to finished goods,
and only pharmaceutical companies are permitted to
import cannabis.
March 2021 | mjbizdaily.com 27

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MJBizMag March 2021

Table of Contents for the Digital Edition of MJBizMag March 2021

MJBizMag March 2021 - 1
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