Business

Cannabis is “commodity of the future,” say Brazilian entrepreneurs

Brazilian companies are desperate to tap into the multi-billion dollar cannabis market. Entrepreneurs believe hemp and cannabis will become in-demand commodities

cannabis commodity
Photo: Anton27/Shutterstock

Weed sells. The global cannabis market was worth USD 22.9 billion in 2020 and is set to grow roughly 20 percent each year until 2026, according to February 2021 estimates by consultancy ReportLinker. In Brazil, companies are on the edge of their seats, investing in technology, consulting, and education while awaiting regulation that will allow them to tap into this potential gold (or green?) mine.

In 2019, health regulator Anvisa approved the controlled import, production, and sale of medical cannabis in Brazilian pharmacies to a total of 10,850 patients.

By late 2020, 26,800 Brazilians had permits to purchase...

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