History Of CBD And Cannabis In: Uruguay
CBD has become more and more popular across the world. There are many reasons for this, but chief among them is that millions of people have found the compound to be very helpful at addressing a variety of physical and emotional ills. Some scientific evidence has backed up this notion.
The end result of this popularity is that CBD has become big business. According to one estimate, CBD is expected to generate an astonishing $1 billion by the end of 2020 before that number skyrockets to $20 billion to 2024. Those numbers may even be on the conservative side, as a different study says that the CBD industry will reach $22 billion by 2022.
More and more governments are changing their laws, legalizing CBD for medical or commercial purchasing. Indeed, attitudes across the world are changing when it comes to cannabis in general, and in few places is that more relevant than Uruguay, which became the first country to legalize marijuana in 2013. Yet, despite the fact that cannabis in Uruguay is legal, CBD is very difficult to obtain, and even then, only available under very difficult circumstances.
Is CBD Oil Legal In Uruguay?
Believe it or not, despite the fact that marijuana is commercially available for recreational use, CBD is very difficult to obtain.
At the moment, only one drug with CBD can be obtained by prescription: Epifractan. However, it is expensive, with higher concentrations of the drug costing $200, financially out of the reach of many Uruguay residents. Residents do have the option of purchasing imported drugs, but this involves numerous steps, including getting a special prescription from a medical professional and then permission from the country’s Health Ministry.
The article goes on to cite research which notes that 2/3 of CBD users in Uruguay obtain the product via illegal means, such as home growers/manufacturers or illegally importing the substance.
All of this makes Uruguay the only countries in the world where marijuana is easier to obtain than CBD.
Marijuana Production in Uruguay
One of the components of the 2013 legalization law has been to set the country up a marijuana growing and processing industry. Manufacturing and extraction labs are already up and running in the country, and as of March 2019, multiple companies were in negotiations with investors to expand already existing manufacturing sites. This will have the effect of not only creating a new industry and source of revenue for the country, but creating hundreds – if not thousands – of jobs.
According to investors, with government support, the country has the potential to be the first to reach $1 billion in the medical marijuana industry.
This is good news for Uruguay residents, as increased manufacturing of marijuana in the country will likely demand and lower costs CBD purchase in the future.