In Latin America, Argentina is often overlooked when considering cannabis development due to countries like Uruguay, who are renowned for their pioneering global advancement in legalising certain uses of cannabis in industry. However, with changing attitudes towards stereotypes that have been long rooted in societies across all corners of the world, it is increasingly uncommon for cannabis legislation to look favourably and optimistically upon its uses and properties that make it so promising for the future. So, you may be wondering, where does Argentina fit into this? Put simply, Argentina not only exhibits a climate that would make cultivating industrial cannabis profitable and beneficial on a regional and potentially global scale, but also as a nation, is increasingly becoming open to the idea of permitting certain uses amongst service sectors as well as the general population.
In a world where a pandemic and global climate crisis has been dominating the headlines of the past year, it is important to not dwell, but rather to look forward to the future and seeking solutions to some of our biggest threats as a species. This opens up opportunity for cannabis in an industrial setting, namely medicine and construction, and it would appear that this has not gone unnoticed in Argentina.
Medicinal cannabis legislation in Argentina
On the 12th of November 2020, Decree 883/2020, or the ‘Ley de Cannabis Medicinal’ (Medicinal Cannabis Law) was passed, in other words, Argentina legalised the home growing of cannabis for specially authorised members of society. It may seem an interesting solution, as opposed to simply being prescribed cannabis oils or products over the counter, however, the idea extends much deeper than this. Cannabis can ease the symptoms for sufferers of many different diseases, for example, multiple sclerosis, therefore, by allowing cultivation at home, the handling chain is greatly reduced. Argentina is not the only country to introduce such a licensing system, but it will be the focus for today’s article, and this kind of innovation maintains the integrity of cannabis legislation, providing a foundation for future development.
If you are interested in this idea, you will be pleased to know that it does not end there. In fact, around the same time the approval of self-cultivation permits came the permitting of sale of certain cannabis derived products across Argentina in different pharmacies. Some of these products include oils made from cannabis by-products and creams, and what is even more interesting is that anyone who requires these medications is able to gain access to them through their medical insurance, demonstrating the focus on people’s wellbeing as opposed to simply making money.
Legislation surrounding hemp in Argentina
We mentioned the Argentine climate being representative of an ideal location for cannabis cultivation, and with agriculture at the centre of the economy, inclusive legislation surrounding the growing of cannabis could allow the economy to boom. The November 2020 legislation changes allowed reform to be brought into action, for example, ARGENCANN (the Argentine Chamber of Cannabis), which is encompassed by the new rules, creating security within the cannabis industry in Argentina, and allowing more opportunity for development. It is well known that cannabis is an environmentally friendly crop, and with global warming presenting as an ever-present issue, perhaps the benefits of cannabis extend beyond practical uses.
Being a crop that absorbs a large amount of carbon dioxide and does not require pesticides when being grown, it is worth noting that industrial hemp products are also being recognised the world over for their advantageous properties once converted into building materials. The Argentinian hemp legislation is also expected to allow the local market to reach a value of around USD$40 million by 2024, demonstrating the need to remain innovative when new laws are passed, and with industrial hemp becoming increasingly popular, the nation’s economy remains poised to grow exponentially alongside increasing expansion and relaxation in legislation.
If this article has interested you and you wish to find out more regarding cannabis in Latin America, please feel free to read our other cannabis and hemp related articles on our blog. At Creimerman, we are a team of experienced global citizens, assisting our clients from across the globe to make their cross-border ventures a success, and if you are looking to expand into the Argentine cannabis industry, we would love to be by your side!