Weed marketing was just like a dream, but now it has been legalized across 13 countries. Marijuana is widely being distributed across the world and is now the new treasure spot for this industry in Uruguay. With the legalization of cannabis in South America; cannabis investors are spotting Uruguay as the export hub for global weed. This industry is expanding all across the globe, and the new entrant to this nascent industry in Uruguay where the weed economy was growing slowly, but now it’s showing a revolutionizing head start. Silverpeak life sciences are the largest company that has quadrupled the production of medical marijuana and is desiring for an expansion of about 25 tons by next year. This drug was earlier demonized for ages, but now it has acquired a large segment of the market in major countries.
In the past few decades, cannabis became legal in North America, which resulted in significant developments. The most remarkable development was the recreational cannabis export and sales legalization for adults across the country in Canada. Before that, also, many states voted in the U.S. to legalize the sales of marijuana for medical purposes. Because of this, cannabis stock is taking off new avenues on multiple exchanges. The legalization of marijuana shows a new range of promise, and now a massive amount of the money of the investors is flowing into marijuana operations, and its export worldwide.
Why are companies pacing up the investment of weed export in Uruguay?
The cannabis producers in North America are considering Uruguay as the gold mine for the global export of weeds. The time is not far when the annual export of products related to medical cannabis will reach $1 billion in a period of just five years aided by the government support over here. Based on a few other projections, it can become a $100 million industry by next year itself. With pot becoming legal in this small country of South America, the weed revolution is not too far away. The greatest reason for this is the surge in the market of this industry from 125 million dollars in the year 2018 to 776 million dollars by the year 2027. This has made Uruguay the leader of the early liberalization of cannabis regulation. An adult citizen can now who is a resident of Uruguay legally can now purchase cannabis at controlled prices by the government from pharmacies. This cuts down the illicit rate in the market and starves out the cartel operations here.
According to a recent study, Colombia and Uruguay have emerged as the largest legal producer of cannabis in this region. This is driving the investors to push for global weed export over here. Uruguay is the only country across the globe that has federally legalized recreational cannabis. Though this country has a small population of 3.5 million, it’s going big on cannabis, and its export across the globe. The cultivation of cannabis has benefits beyond medicinal and human health. It’s cultivation not only creates new opportunities in the domestic segment but also diversifies the export in Uruguay. This has contributed to the substantial foreign interest in capital investment from Latin American and Canadian investors. Uruguay’s law allows people to use weed freely without any fear of prosecution. This has also reduced the drug trade illegally. After creating history in 2013 by becoming the leading country to legalize cannabis for recreational use, Uruguay is all set to become the hub of medical marijuana all across the world.
Silverpeak Life Sciences is aiming to capitalize on this industry giving a boom to Uruguay’s economy
Silverpeak Life Sciences is the leading company in Uruguay that has paced up the growth of medical marijuana by capitalizing on this industry over here on a large basis. It’s working with various other investors to accelerate the production to $35 million and is also planning to build an extraction lab by next year. This expansion can increase the revenue by millions, and it can increase to 25 tons by next year. This will give 100 dollars a million push to the revenue. The inflow of this investment can create a promising legal market for marijuana because the drug has been vilified over here for decades. This is the reason the subsidiary headquarters of Silverpeak in Uruguay has requested the regulatory agency of cannabis Ircca to increase the annual production of the cannabis plant to 400 tons. With enough support and investment, the time is not far when Uruguay will become the leading medical marijuana and other weed product producer in the entire world.
Silverpeak has estimated that the harvest of 6 tons by this year can generate 40 dollars million increase in revenue. This is possible if the permits are given to Former to ship the flowers of cannabis and a small quantity of THC and CBD extract to Canada, Australia, Germany, and the U.K. The regulatory agency of cannabis Ircca has even approved the cannabis projects worth $57 million and is aiming to obtain a permit for forty million dollar projects approximately. The main goal behind this is to pace up the number of marijuana licensed producers that have the permit to supply recreational weed to different pharmacies from two to five by the closing of this year or Buy Weed Packs. With the recent pace of investment in Uruguay, this number can change. As the Canadian and U.S. cannabis producers start looking at this country as the pot destination the time is not far Uruguay will become the leading country to reach one dollar billion in the export of medical marijuana annually in just the time frame of five years. By 2020 it’s even expected that Uruguay will become a hundred dollar million industry 2020. This will definitely open new avenues of development through the million-dollar increase in the industry.
With the booming of the marijuana industry legalization across North America, professional as well as retail, investors have turned into enthusiastic buyers as they’re anticipating explosive growth in this sector in Uruguay.