Despite Brazil’s restrictive cannabis laws, the country is on course to become a billion-dollar market and a reference for the medical cannabis manufacturing industry. This is the view of Andres Fajardo, president of cannabis multinational Clever Leaves, and his firm is not alone in its optimism about Brazil’s medical marijuana potential.
HempMeds Brasil — the first company to obtain permission to import cannabinoid-based medicines before health regulator Anvisa allowed domestic firms to import, produce and sell these pharmaceuticals locally last year — has recently launched new brand Hezium, specifically targeted at the Brazilian market.
And the growth is fostering other segments of the industry. Forbes reports that agricultural group Terra Viva is looking to grow hemp alongside its vegetable and flower crops in the city of Holambra, in São Paulo state.