Now the US market has gone south people are going south hoping that Brazil is the next cannabis / hemp / cbd goldrush. First, legislation has to be passed.
This is what ICBC have to say on the upcoming vote
Brazil is the largest nation in South America, as measured by population size, and the next closest country on the continent isn’t close. Brazil’s population of over 200 million people dwarfs the next closest country on the list, Colombia, which has a population of fewer than 50 million people.
A new, compassionate, and exciting industry being created out of thin air in Brazil would be a really big deal on a global scale because of how large the country is. Brazil is the fifth most populated country on earth.
That is what is happening right now, albeit slowly, right before our very eyes. The medical cannabis industry is coming to Brazil beyond imports of pharmaceutical-based cannabis medicines.
Multiple proposals of regulatory models are currently being considered by Brazilian regulators, with a vote expected tomorrow. The vote was originally expected last week until a delay was announced leading up to the vote. Per Brazil’s National Health Surveillance Agency (Anvisa):
Some suggestions from the Agency’s directors on the texts of the Resolutions to be deliberated on Tuesday (8/10) on cultivation and registration of cannabis-based medicines need to be evaluated. Tema returns to the agenda of the Anvisa Collegiate Board at the next meeting, scheduled for October 15.
Initially, topics discussing criteria for cultivation and registration of plant-based drugs would be deliberated at the Board meeting on Tuesday (10/08).
However, some suggestions from the Agency’s directors were presented to the text. Prior to consideration by the Board of the Agency, the new considerations will be evaluated by the technical areas related to the topic, as well as by the Anvisa Attorney.
Brazil is currently a leading importer of pharmaceutical-based cannabis medicine. It’s far from being an optimal situation. Those types of products are extremely expensive compared to cannabis flower and other cannabis product options that are available in many legal cannabis markets.
Pharmaceutical-based cannabis products are not effective for a large number of suffering patients in Brazil. Those patients need legal access to other forms of cannabis that can be consumed via a wide array of consumption methods.
Domestically cultivated cannabis is what Brazilian lawmakers tasked the government with building a regulatory framework for, and once that becomes a reality, Brazil will likely become home to some of the cheapest medical cannabis options in the world.
It is no secret that cannabis grows better and easier in many parts of South America compared to the rest of the world, similar to other agricultural products. Brazil is no exception. The climate in many parts of Brazil is ideal for sungrown cannabis cultivation.
Not only could Brazil produce its own medical cannabis cheaper than current options for legal cannabis imports, it very well could end up cultivating so much cannabis that it creates the opportunity for Brazil to become a top cannabis exporter to countries around the globe.
Suffering patients in Brazil deserve better medical cannabis options, and individuals and entities that can do honest work and provide quality medicine to those patients should be allowed to legally do so. Hopefully this week’s vote is favorable and Brazil moves closer to implementing a legal, regulated medical cannabis industry.
Brazilian Regulators To Vote On Medical Cannabis Proposals Tomorrow
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Cannabis sativa may attract billions in investments to Brazil
Eyes and attention are focused on the Brazilian National Health Surveillance Agency (Agência Nacional de Vigilância Sanitária – Anvisa), the Brazilian regulatory agency responsible for the execution of sanitary control, regulation, approval and supervision of pharmaceutical, health services, medical devices, among others. It is expected to establish a new regulation on the use of hemp for medical purposes by the end of the year. If enacted, the new regulation from Anvisa will allow the controlled cultivation of Cannabis sativa for medicinal purposes and the registration of medicines produced with active ingredients of the plant in the country.
This regulatory agenda is not essentially a Brazilian hot topic. This subject has been mobilizing the society, the scientific community and the sanitary/health authorities around the world. Approximately forty countries have already authorized the use of Cannabis for medical purposes. If Anvisa meets the international health trend, Brazil will also be part of this avant-garde group.
Regulating the use of substances extracted from this plant will not only bring social gains – since there are numerous scientific researches attesting therapeutic benefits on the substances found in Cannabis -, but also will bring economic benefits. The American consultancy New Frontier Data estimates that the Cannabis business may attract US$ 5 billion in investments over the next three years.
Cannabis sativa may attract billions in investments to Brazil
